by mk

b_b and I were just talking about this today. My bet is that the bankers win.

Diluting London’s financial power would be a particularly acute problem for Wall Street banks given the significant revenue they generate from EU clients. Eighty-seven percent of U.S. investment banks’ EU staff are located in the U.K., which is also home to 78 percent of the region’s capital markets activity, according to think tank New Financial.