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London is going to remain Europe's financial hub but Brexit will damage it

London is going to retain its position as a European financial hub for years to come and, together with New York, it will keep being among the globe’s leading trading capitals though Brexit will damage its expansion, as Michael Bloomberg said today.

He also said that he would anyway have chosen to establish a new central office in Europe for his news company in the middle of financial district of London had he known the vote would be won by Brexiteers.

London will remain Europe’s financial center for years to come, it has got what the finance industry requires, Michael Bloomberg said in a radio interview. Brexit will influence jobs – they will move, however, chances are they will be replaced, as for London’s expansion rate in the role of a financial hub – it will certainly suffer, he added.

London’s City is the center for international foreign exchange and for so many banks than hardly any other place can brag about, and it expects big changes as companies consider plans to move jobs to mainland Europe to continue operating in the bloc after UK parts with it in 2019.

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