Flint: London ‘prepared for worst’ with no-deal Brexit

Douglas Flint

Standard Life Aberdeen chairman Douglas Flint said on Friday that the City of London financial sector is ready for any outcome from the ongoing Brexit negotiations.

Asked what a no-deal Brexit would mean for the City of London and financial services, Flint said: “I think the City has been planning, preparing on the basis that there would be no deal and on the basis that you have to prepare for the worst and then hope get a better outcome that enables you to improve on that position,” he said in an interview with Bloomberg TV.

“So I think the City’s ready for a no-deal and has already planned and made the arrangements so that, most importantly, our clients are able to access the services they need without interruption.

“Certainly, that’s our position and I believe that’s the position right across the City …

“We are going to know with much greater clarity, with absolute clarity, in three weeks’ time what the arrangement are going to be from the beginning of next year and that again will allow businesses to plan.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.