HSBC boss - More jobs could stay in London

A softer Brexit would be 'very good news for us'.

Bloomberg News reports that HSBC’s investment bank chief Samir Assaf said a hard Brexit is now unlikely after the U.K. election, and that could mean more jobs staying in London.

A softer Brexit would be “very good news for us, because it will be less hassle and we would be able to do much more things from London,” Assaf said at an investor presentation on Thursday.

Prime Minister Theresa May is coming under pressure to ditch her plans for a hard Brexit after failing to win a majority in last week’s general election. While she hasn’t signaled a change in approach so far, the result has raised the prospect she’ll do more to maintain trade ties with the European Union.

HSBC CEO Stuart Gulliver has previously said he would probably move about 1,000 employees from the bank’s offices in London to Paris to handle European trading activities.

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HSBC's Assaf Says More London Jobs May Stay on Softer Brexit

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