London’s Brexit-hit bankers gloomiest since the 2008 financial crisis

Sentiment among London’s Brexit-hit bankers sank to its gloomiest depths since the 2008 financial crisis, a survey showed -- a stark contrast to the bullish tone of finance executives gathered last week in Davos, Switzerland.

Bloomberg News reports that The Confederation of British Industry poll - based on responses from 92 financial-services firms in the three months through December, before a new year that has seen worries of a hard Brexit recede and the pound appreciate - showed sentiment at banks has deteriorated for seven of the last eight quarters. Almost a third of the firms saw a high likelihood of financial-market conditions worsening in the next six months.

"Optimism in parts of the sector has been falling for the last two years, whilst firms are nearly unanimous in voicing their concern about the damaging impact of Brexit uncertainty," CBI Chief Economist Rain Newton-Smith said in a statement Monday.

Hit the link below to access the complete Bloomberg News article:

London’s Bankers Haven’t Been This Gloomy Since 2008

Kingdom Shares Recover From Shock of Prince Alwaleed's Detention

 

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News