Tough Brexit Stance By EU Could Force More Jobs From London, Bank Chief Warns
(World News UK)

Tougher demands by EU regulators may force banks to shift more jobs to Europe than originally planned due to Brexit, one of the lender’s top bosses has warned. Standard Chartered said it has been waiting nearly nine months for EU officials to approve a banking licence that will turn its Frankfurt branch into a subsidiary. While it originally expected approval for the move by Spring, it has been at the mercy of European regulators who appear to still be finding their footing. Tracy Clarke, the bank’s regional CEO for Europe and the Americas, told the Press Association: “Because we were one of the first (to apply for a licence) there was no precedent for...