Brexit: May to meet UK financial services chiefs

Prime Minister Theresa May will meet executives from major finance companies on Thursday to give them a clearer idea of what Britain’s European Union exit will mean for them.

There are concerns that Brexit threatens London’s status as the financial capital of Europe and that banks are preparing to move thousands of jobs to the continent to preserve their access to the EU’s single market.

The meeting is one of a regular series with business leaders and will also be attended by finance minister Philip Hammond and junior Brexit minister Robin Walker, a spokesman for May said.

A stand-off between Britain and the EU over the future access to single market for London’s vast financial services industry is shaping up to be one of the key Brexit battlegrounds before Britain is due to leave the bloc in March 2019.

Britain and the EU will soon begin the much harder task of defining their future trading relationship, after settling the broad terms of their divorce settlement last month.

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