RBS Chairman Says 'Tens' of Staff to Move After Brexit

The transcript discusses the implications of Brexit, particularly focusing on the UK's decision to leave the single market and customs union. It highlights the city's concerns about the need for transitional arrangements to avoid disruptions, especially in contracts. The banking sector's response is also covered, noting that some banks may need to relocate staff but have existing eurozone bases to mitigate issues.

What was a key point made in the Prime Minister's speech regarding Brexit?

• The UK will increase immigration.

• The UK will remain in the single market.

• The UK will not be part of the customs union.

• The UK will join the eurozone.

Why are transitional arrangements important for the city?

• They prevent changes in immigration laws.

• They ensure continuity in contracts.

• They allow for increased trade with the EU.

• They reduce the need for financial regulations.

What is a major concern for the city regarding Brexit?

• Increased taxes on exports.

• Discontinuity in contracts.

• Loss of tourism revenue.

• Reduction in agricultural subsidies.

How does the bank plan to address potential Brexit challenges?

• By opening new branches in Asia.

• By relying on its eurozone bank in Dublin.

• By increasing its workforce in the UK.

• By reducing its operations in Europe.

What is the expected impact on the bank's workforce due to Brexit?

• A small number of employees may be relocated.

• All employees will work remotely.

• No employees will be moved.

• Thousands of employees will be relocated.