Barclays CEO, Jes Staley said that Barclays has moved some of its staff to EU headquarters in Dublin due to Brexit. Staley said in his comments that "European Union will want to stay connected to the capital markets in London". 

Jes Staley in an interview on BBC said that London's focus should not be on Frankfurt or Paris, But it needs to focus on Singapore and New York.

Chief Executive of Barclays, Jes Staley admitted that there was an impact of Brexit as the company moved about 15% of assets to EU headquarters but the impact was modest. 

Furthermore, Staley also mentioned that the financial services sector is the major sector that employs more than 1.1 million people with two-thirds outside of London city. It is a more economically significant sector than the fishing industry and the government should focus on it and have a discussion with the EU. It was completely ignored in Brexit Negotiations.

The Brexit deal agreed, over Christmas, between the EU and the UK did not include the finance sector. Brussels and London are now aiming to negotiate it by early March 2021.

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Posted February 21, 2021, 3:42 pm

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