Posted by AdviserDirect on 08/09/2019

Top bankers shift tone over horror of ‘no-deal’ Brexit

Top bankers shift tone over horror of ‘no-deal’ Brexit

 When Jamie Dimon said a hard Brexit would be a disaster for the UK earlier this year, the JPMorgan chief executive was articulating a view that is commonly held among London’s investment bankers. But since Boris Johnson became prime minister, some senior bankers who were previously staunchly anti-Brexit now privately say their opinions have changed.

“We need to get it done; the inertia is worse than a no deal,” the head of one large investment bank recently said, despite once warning of the dangers of such an outcome. Another spoke admiringly of Mr Johnson, comparing him to Winston Churchill, and said: “He has come in with a mission. You cannot keep going on and on without a solution. I’m now more on the side of taking us out and planning for the future.”

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