BBA CEO Says U.K. Banks Planning for Worst in Brexit

The video discusses the potential relocation of bankers from London to European cities like Frankfurt, Milan, and Portugal due to Brexit. It explores the impact of Brexit on financial services, including the possibility of a hard Brexit and the need for mutual access agreements. Banks are planning for various scenarios, including worst-case outcomes, and are considering relocating operations to cities like Dublin and Frankfurt. The video also highlights the challenges banks face in deciding which staff to move and how to maintain operations post-Brexit.

Which city is considered a favored option for many banks due to existing operations?

• Lisbon

• Milan

• Frankfurt

• Madrid

What is a major concern for banks regarding Brexit?

• The rise in property prices in London

• The lack of skilled workers in the UK

• The increase in taxes for financial services

• The potential for a hard Brexit with no special agreements

What is the worst-case scenario banks are planning for post-Brexit?

• No arrangement in place by 2019

• A significant increase in interest rates

• A sudden drop in the value of the pound

• A complete ban on UK banks in the EU

Why are banks keen to avoid moving jobs out of London?

• To avoid regulatory issues

• Because staff prefer to stay in London for personal reasons

• Due to high relocation costs

• To maintain their brand image

What factors influence banks' decisions on relocating operations?

• The availability of government incentives

• The type of business operations they have

• The proximity to tourist attractions

• The weather conditions in the new location