Brexit could force banks to relocate jobs away from London: EU’s Jonathan Hill

By: | Published: June 22, 2016 12:34 PM

Banks could be forced to relocate jobs from London to Frankfurt and Paris if Britain should decide to leave the European Union in its referendum on Thursday, the EU's financial services commissioner was quoted as saying on Wednesday.

"Then it could happen that banks and investment funds shift activities and jobs to Frankfurt and Paris," said Hill. (Reuters)“Then it could happen that banks and investment funds shift activities and jobs to Frankfurt and Paris,” said Jonathan Hill. (Reuters)

Banks could be forced to relocate jobs from London to Frankfurt and Paris if Britain should decide to leave the European Union in its referendum on Thursday, the EU’s financial services commissioner was quoted as saying on Wednesday.

“I’ve visited London, Manchester and other British financial centres in the past weeks and warned of the consequences of an exit from the EU,” Jonathan Hill said in an interview published by German business newspaper Handelsblatt.

Also Read: Wall Street rises on low rate bets; Brexit fears ebb

“Then it could happen that banks and investment funds shift activities and jobs to Frankfurt and Paris,” said Hill, a Briton appointed to the European Commission by Prime Minister David Cameron.

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