, Columnist
UBS’s Brexit Dog Whistle Is Loud and Clear
In the race to succeed London as Europe’s financial capital, banks aren’t above throwing their weight around.
New London.
Photographer: Christophe Morin/Bloomberg
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Paris, Frankfurt and other European cities are rolling out the red carpet to welcome financiers quitting London as Brexit puts the U.K. capital’s free access to business on the continent in jeopardy.
Rival hubs have love-bombed firms with promises of tax breaks and sweeteners. But they need to be on guard against a regulatory race to the bottom — as the U.K. knows to its cost.