Australia is the latest country whose banks are planning to abandon London as Brexit looms
|10/29/2018||Posted by BusinessMediaguide.Com under General World News||
- Australia’s banks are beginning to put in motion plans to shift staff and other assets out of London after Brexit.
- Australia’s largest bank by assets, Commonwealth Bank of Australia, is moving 50 staff to Amsterdam as it readies for Brexit, according to The Financial Times.
- Others including Macquarie, Westpac, and ANZ Bank are making plans on the continent.
- Many foreign financial institutions are frustrated — like many UK businesses — by the lack of any real clarity over what sort of Brexit the UK will actually achieve when the Article 50 period runs out in March next year.
Australian banks with UK operations are read more >>>