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Goldman Sachs 'respects decision of British electorate' after Brexit vote

Published 24/06/2016

Goldman Sachs has 'been focused on planning for either referendum outcome for many months'
Goldman Sachs has 'been focused on planning for either referendum outcome for many months'

Goldman Sachs boss Lloyd Blankfein has said the bank respects the decision of the British electorate after the vote to leave the European Union.

In a statement, he said: "We respect the decision of the British electorate and have been focused on planning for either referendum outcome for many months.

"Goldman Sachs has a long history of adapting to change, and we will work with relevant authorities as the terms of the exit become clear. Our primary focus, as always, remains serving our clients' needs."

Barclays chief executive Jes Staley said : "This is a significant decision and there will be many questions asked in the coming days and weeks about what happens next. The answers are complex but our position is not: we will not break our stride in delivering the Barclays of the future.

"We have stood in service of our customers and clients for over 325 years. We have been here for them through equally profound changes before. And no matter what has been laid before us, we have been here to help them achieve their ambitions."

HSBC chairman Douglas Flint said: "We are today entering a new era for Britain and British business. The work to establish fresh terms of trade with our European and global partners will be complex and time consuming. We will be working tirelessly in the coming weeks and months to help our customers adjust to and prepare for the new environment.

"As one of the largest, most stable, liquid and prudent financial institutions in the world, HSBC is well placed to support our customers and the markets as they deal with the challenges that will arise. Our commitment to British businesses, customers and staff in the UK remains undiminished."

Lloyds Banking Group said customer deposits remained protected and it would now "consider any future changes that may be required" following the Brexit vote.

A spokesman said: "We remain committed to our purpose of helping Britain prosper through our focus on UK retail and commercial banking, funding business investment, and serving the financial needs of our customers to support them throughout this period and beyond.

"There are no changes in the products or services offered to customers, either in the UK or overseas. Customers can continue to use our banking and insurance services as they did before.

"Customer deposits in the UK continue to be protected by the Financial Services Compensation Scheme; and the Prudential Regulation Authority and Financial Conduct Authority remain our primary regulators.

"With the expected timescales for the negotiations, the Group will have time to consider any future changes that may be required in the new environment."

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