Henry Grunfeld Professor of Banking Dr Peter Hahn appeared on Share Radio yesterday (21 July) to discuss the “temperature” of banking, post-Brexit.
Answering the question whether the UK will form an alliance with other financial centres outside of the EU, such as in Zurich or Singapore, following the results of the referendum, Dr Hahn said: “London will remain a global centre, but certain parts of EU banking are at risk, such as the European Central Bank.”
However, in the long-run, Dr Hahn believes that London’s place as a global financial centre is relatively assured: “a lot of money is in London; it has a good legal environment with centuries of financial stability and is situated in a convenient time zone between the US and Asia.”
According to Dr Hahn, what London now needs is “a champion who can speak for the industry’s vast interests, as well as demonstrating the value it adds to the rest of the EU.”
To listen to the full interview, please visit the Share Radio page here.
Dr Peter Hahn is the Henry Grunfeld Professor of Banking at ifs. You can read his entire series on Brexit and it's implications here.