Bankers and hedge funds will always love London

It will be difficult to wrestle trading flows, bankers and – ultimately – control of the EU’s own markets away from London.

THE power of 27 countries against one is often cited as the reason why the European Union will prevail in Brexit negotiations with the UK.

But the logic reverses when you think about what might happen to the City of London after Britain’s departure, and whether Europe’s other cities can challenge its primacy in finance. For financial services, having a single, centralised one-stop shop like London makes more sense than having a gaggle of disparate mini-centres such as Paris, Frankfurt and Amsterdam. In this instance, being alone is a strength.