UK PM to Survey US Banks on Hard Brexit Outcomes

Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their U.K. business.

Mrs May will meet “mostly” chief executives from the finance sector along with figures from the technology and entertainment sectors at the mid-town residence of the British consul-general in New York on Monday.

The prime minister will hold two gatherings: a roundtable discussion with big investors in the U.K. including Goldman Sachs, Morgan Stanley, BlackRock, IBM, and Amazon. Then she will host a reception for about 60 U.S. executives, as well as British businesses that invest in the U.S.

The events, which are her first New York meetings with U.S. companies and investors since she took office, will be a listening exercise for Mrs May and for the foreign secretary, Boris Johnson, who is accompanying her.

They want to hear the views of business leaders and investors on what Britain’s priorities should be in Brexit negotiations with the EU, which Downing Street has signaled are likely to begin next year.

Mrs May said she would “be talking about how we can encourage trade and investment” between the U.K. and the U.S., including “talking to them and hearing from them about what the issues are that they want us to address” in the Brexit negotiations.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza