The City of London has little to celebrate from the first six weeks of freedom from the European Union.
The financial district lost its crown to Amsterdam as Europe’s top place to buy and sell stock. Traders have shifted interest-rate swaps out of the U.K. capital. Relocations of bankers are set to continue in 2021.
"Brexit is a body blow to the London financial center,” Xavier Rolet, former head of London Stock Exchange Group PLC, said in an interview. "I’m very deeply worried that Brexit is going to kill the golden goose and we are already seeing the first signs that this has started to happen.”