Reuters - Barclays planning without clarity

Jes Staley Interview Pic

Barclays is having to put plans in place for dealing with Britain’s divorce from the European Union without clarity on how political negotiations will go, the bank’s Chief Executive Jes Staley said on Wednesday.

Reuters reports that the bank said in July that it was talking to Irish regulators about extending its activities in Dublin in preparation for when Britain leaves the EU in March 2019.

Staley said the bank will relicense all of its branches in Europe so they become part of their Irish business but they are having to make these changes without clear direction from London or Brussels on what they need to do.

“Like all of us, we are in sway to the desires and wishes of the political bodies and I have no idea how that will go,” Staley said speaking at an event in Westminster, close to the British parliament.

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Barclays CEO forced to plan for Brexit without political clarity

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