Fears of Remainers are unfounded! Goldman Sachs is prepared to take advantage of fresh Brexit chances.
BREXIT-related anxieties have been dispelled, with Goldman Sachs promising to exploit “new chances” as a result of the vote.
While some have predicted a financial flight from the city, the Banking Cooperation has expressed its confidence in the capital’s post-Brexit future. Richard Gnodde expressed his faith in Britain’s future and capacity to compete with other European markets, despite the fact that some enterprises had relocated to Frankfurt and Paris. “We put this building in place during the Brexit period, and it really demonstrates our confidence in London’s ability to remain one of the world’s premier financial centers,” he said.
Mr Gnodde, who outlined a roadmap for the UK’s future, asked that the government reduce red tape and complexity in the financial sector.
“Eliminate redundancy and unnecessarily excessive reporting,” he told the BBC.
“Let’s do what needs to be done in order to have effective regulation.
“However, let us eliminate some of the bureaucratic components to allow businesses to make better use of their capital resources.”
Mr. Gnodde also asserted that the United Kingdom is robust enough to prosper in the future.
“Being a smaller fish might sometimes be an advantage,” he explained.
“Your paranoia rises, and you must move to develop and create.
“When you consider the difficulties that this country has faced over the last century, we are completely convinced that the people of Britain will lead it forward once more.”
Following Brexit, the EU declined to award UK businesses financial equivalence, requiring them to follow two sets of financial standards.
As a result of the EU’s stance, some people have left the capital, despite Goldman Sachs CEO Lloyd Blankfein insisting that corporations must generate new opportunities in the future.
“There has been some asset movement,” he said.
“As far as I’m aware, that is no longer the case. Furthermore, our access to the European market is not as open as it formerly was.
“We need to establish and generate new opportunities,” says the author.
As a result, many have urged the UK to focus on Asian markets and its post-Brexit future outside of the EU.
In March, negotiations for a memorandum of agreement came to a close, with both parties agreeing to maintain financial cooperation.
Chancellor Rish Sunak said in a speech earlier this month that despite not reaching an agreement with the EU, the UK will maintain high regulatory standards.
“Our objective had been to reach a complete set of mutual conclusions on financial services equivalence,” he said in an address at Mansion House. “Brinkwire Summary News” is what it’s called.