For Wall Street Banks in London, It’s Moving Time

The financial landscape of Europe is changing as banks shift employees and hundreds of billions of dollars’ worth of assets from London to new subsidiaries across the bloc in time for Britain’s divorce from the European Union, a process known as Brexit, on March 29. Banks are adjusting contracts with “Brexit clauses” to protect themselves if the separation is chaotic. Lawyers are checking regulations, jurisdiction by jurisdiction, to gird for possible future contractual disputes.