Post-Brexit divergence puts EU subsidiaries on the rack

Banks face choice between higher staffing costs or over-engineered processes at UK headquarters

Brexit jigsaw

Chief risk officers of European Union subsidiaries that were established or expanded in response to the UK’s decision to leave the single market at the end of 2020, find compliance is becoming ever more complicated as the regulatory regimes for the two jurisdictions begin to drift apart.

“It is a huge issue where you are part of a global organisation that has to deal with multiple, almost conflicting jurisdictional requirements,” said Anthony Mayer, chief risk officer of Barclays Europe. “There

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