More than two-thirds of City firms believe that London will retain its status as one of the world’s leading financial centres after Brexit.
More firms also believe that the competitiveness of their own sector will improve (32%) than worsen (17%) over the next 12 months, according to an annual sentiment survey from Lloyds Bank.
Lloyds questioned leading banks, asset and wealth management firms, insurers and intermediaries.
Firms are divided over the impact of changes to regulations that govern the sector. Almost half of those believing that the competitiveness of financial services would improve in the next year cited regulation diverging from the European Union model as a key factor. Yet regulation was also cited by the three-quarters who feared that UK competitiveness would worsen.
