Wall Street’s London Outposts Are Braced for a Brexit Beating
A London taxi waits at a junction outside the new European headquarters of Goldman Sachs Group Inc. in London.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Wall Street titans have come to dominate London finance. Now they have the most at stake as they face Brexit’s final reckoning -- and with less influence than they are accustomed to.
Banks such as Goldman Sachs Group Inc. and JPMorgan Chase & Co. use London as their base for doing business with European Union clients. Now, they are torn between the impulse to keep a big presence in the financial hub and their frustration at the U.K.’s go-it-alone approach as it prepares to leave the bloc on Friday.