Bankers in London braced for hundreds of potential job losses and a hit to Britain's already-dented financial sector after the historic rescue of Credit Suisse by Swiss rival UBS .
UBS has its own headquarters in London's historic Square Mile, a gleaming 700,000 square foot "groundscraper" where the bank had already begun sub-letting some space after more of its staff took up flexible working since the COVID-19 pandemic.Outside Credit Suisse's offices on Monday there was little sign of the tumult. One man who walked out of the building told Reuters that inside the atmosphere was business as usual.
"London's financial services industry remains by far the largest in Europe," LSE's Travers said, adding that Britain's regulatory regime may be a pull for international finance at a time when questions are being raised about other jurisdictions.
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