I write to you from Leipzig, a city I first visited 30 years ago when it lay behind the Iron Curtain. Back then, I needed a visa to visit, which took months to obtain. I could never have dreamt that Leipzig would one day lie within the European Community of which my country was already a member or that my country would vote to leave that community.
For anyone who has lived a life in Europe, Brexit is a devastating blow. For this magazine, whose raison d’être has been to promote a single market for investment funds in Europe. For your business, whether you sell from the UK or into the UK or simply appreciate the unique contribution that the UK has made to financial services in Europe. For the 27 countries now left to make the union work without the awkward squad.
Above all, as is now apparent, the Brexit vote was a colossal act of self-harm. As everyone in the fund industry knows, no country has benefited more from the single market in financial services than the UK. No country has been more active in selling its fund management expertise across borders than the UK. And what is the plan … Read More »