U.K. Banks as Prepared as Can Be for Brexit: Natwest’s Davies

The transcript discusses the uncertainty surrounding financial negotiations and the preparedness of banks for potential outcomes, particularly the lack of focus on financial sector equivalence. It highlights the impact of no equivalence on business operations, leading to a shift from London to other European centers. The conversation also compares the competitive positions of UK and US banks, noting the challenges UK banks face due to ring fencing legislation and dividend restrictions, which have affected their market share in investment banking.

What are the implications of the current negotiations on the financial sector as mentioned in the text?

In what ways have US banks increased their market share in investment banking in Europe?