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Banks BACK Britain: HSBC and Barclays say jobs WILL NOT be moved to Europe

Economy:
Banks BACK Britain: HSBC and Barclays say jobs WILL NOT be moved to Europe

TOP banks are set to keep jobs in Britain - despite warning before the referendum they could up sticks if there was a vote to leave the European Union.

HSBC and Barclays are among the banks that have vowed not to scale back operations in the UK after the referendum outcome.
Barclays chief executive Jes Staley said the bank is "staying anchored in Great Britain" and is not making any plans to move staff on to the continent.
He said the firm may make extra hires in Europe if necessary, but that would not paid for by losses in the UK.
Mr Staley told the BBC: "Right now we are not making any plans to pick up and move people from one location to another."
And added: "You might have to increase your presence in another location - that does not necessarily mean you have to decrease[at]Your location here."

At the same time, HSBC also said it's not currently looking to change its headquarters from London.
Chairman Douglas Flint said: "The message to staff is strategy has not changed, no change in roles or prospects as of today."
Mr Flint said the UK now has the chance to rewrite some of the rules governing firms for the better.
He said: "We are going to have the best regulation in the world."
It comes as banks set out what they hope to get out of negotiations with the EU.

Chief executive of the British Bankers Association, Anthony Browne, said: "It is now crucial that the Government focuses on developing a clear vision for the exit process the banking sector has been working on detailed contingency planning to guarantee banks can continue serving customers in the UK and across the EU. "
A number of other firms have reiterated their commitment to Britain in the wake of the vote to leave.
Internet giant Alphabet, the parent company of Google, said it is unlikely to change operations.
Head of supercar firm Aston Martin Andy Palmer has also rubbished claims that a vote to leave puts British jobs at risks, with the weakened pound set to make exports more competitive.

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01 July 2016, 15:20