Brexit will cause Europe to lose share of financial market, Deutsche Bank head says

European capital markets will have to reinvent themselves without the City of London, according to David Feldmann

‘London as a financial centre will need to be replaced by a new centre on the continent, but it's not a single one.’ Picture: Getty

Europe’s share in global financial markets will continue to fall because of Brexit, Deutsche Bank’s managing director has said.

“With the UK not formally part any more of European financial markets, the 25 per cent global share will drop even further, obviously, and it is therefore essential that Europe focuses on providing the right conditions to grow its financial markets and strengthen them,” David Feldmann said.

London will not be replaced by a single city ...