Could big banks leave London ?

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'Either the circus of the financial markets is located in London or its going to be somewhere else'.

ING CEO Ralph Hamers said the lender would probably follow other major banks in reducing its London staffing levels if the U.K. withdrew from the European Union.

“If some of the mega banks, the markets banks, leave London, we will go with the flow,” he said in an interview with Bloomberg News. “Either the circus of the financial markets is located in London or its going to be somewhere else.”

Bloomberg News reports that Hamers becomes the latest senior financier to warn a so-called Brexit would threaten London’s status as a global business hub. HSBC CEO Stuart Gulliver said on Monday he would probably relocate about 1,000 investment bankers to Paris if a June 23 referendum resulted in the U.K. leaving the bloc. ING, the Netherlands’ largest lender, runs global investment banking and emerging markets operations from London and has about 650 employees in the capital.

To access the complete Bloomberg News article hit the link below:

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