Following the UK referendum on its membership of the European Union which took place last year on June 23, 2016, the British public voted to leave the European Union. The decision brought about rapid political change with David Cameron, the previous Conservative Prime Minister, stepping down and Theresa May taking over leadership of the UK. The term “Brexit" was coined by the new Prime Minister and the chain of events that has followed has been closely watched by the nation – in particular, UK financial services and the rest of the world of international commerce.
The triggering of Article 50 by Theresa May on March 29, 2017, has put into play a 2-year transition process which will culminate in the final withdrawal of the UK from the remaining 27 member states of the EU. It is clear that the UK government wishes to have a “Norway” style arrangement with the EU which will continue to allow access to the EU market – but what does this mean for the financial services sector?
HCL is preparing to help its clients following either a “Soft” or “Hard” Brexit outcome. HCL has representative offices and facilities throughout the EU including London, Dublin, Frankfurt, Paris, Amsterdam, Copenhagen, Oslo, Prague, Krakow and Tallin. We are well positioned to listen to client requirements to formulate options, optimise solutions and help clients adapt to change via Infrastructure, Data storage, Applications and Change Management.