Jes Staley, speaking to the BBC on Thursday, admitted that his bank may have to relocate some jobs to other cities in the European Union after the UK quits the bloc, but said that the majority of the group’s European banking business would still be able to be done from the UK.
“I don't believe that the financial centre of Europe will leave the city of London,” he told the broadcaster. “There are all sorts of reasons why I think the UK will continue to be the financial lungs for Europe”
Mr Staley’s comments come on the back of a slew of other leading banks warning, from the World Economic Forum in Davos, of thousands of job moves as a result of Brexit.
On Wednesday, UBS chairman Axel Weber said that about 1,000 of the Swiss bank's 5,000 employees based in London could be affected by Brexit, while HSBC chief executive Stuart Gulliver said the bank could relocate 1,000 staff to Paris.
German newspaper Handelsblatt reported on Thursday that Goldman Sachs is considering moving half of its London-based jobs to Frankfurt and other financial centres because of concerns over Brexit.
But Prime Minister Theresa May, also speaking in Davos on Thursday, hailed Britain as a “hub for foreign investment” and insisted that the country remains “open for business”.
She said the UK was not turning its back on the world, but seeking out new trading partners and allies around the globe - while maintaining close ties with European neighbours.
Register for free to continue reading
Registration is a free and easy way to support our truly independent journalism
By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists
Already have an account? sign in
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies