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Senior bankers warn over SMEs not ready for no-deal Brexit

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Sky News reports that senior bankers have warned Chancellor Sajid Javid that the majority of UK SMEs remain largely unprepared for a no-deal Brexit. It is understood that they told Mr Javid that while they had made the necessary contingency plans if the UK leaves the EU without a deal next month, many of their SME clients had not. Bosses of major UK lenders including HSBC and Lloyds Banking Group were reportedly among those highlighting concerns. Among those present at the meeting were Jes Staley, Barclays chief executive, Goldman Sachs International chief executive officer Richard Gnodde, and David Schwimmer, CEO of the London Stock Exchange Group. Bruce Carnegie-Brown, chairman of Lloyd’s of London, John Kingman, chairman of Legal & General, and Howard Davies, chairman of RBS, also attended.

 

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