Nomura Sees Risk Brexit Will Create `Two Centers of Liquidity' in Europe

The transcript discusses the preparations for a hard Brexit, including moving staff from London to Frankfurt. It highlights the potential impact on London's financial ecosystem, the risks of liquidity fragmentation, and the challenges of maintaining capital and funding pools. The conversation also explores the possible market implications of a hard Brexit, such as currency struggles and shifts in UK gilts.

What preparations are being discussed for a potential hard Brexit in terms of personnel movement?

How might the fragmentation of financial services affect the European economy?

In what ways does the City of London maintain its status as a financial center despite Brexit?

What concerns are raised regarding liquidity in the context of Brexit?

What potential market events are being anticipated as a result of a hard Brexit?