The issue on every European partner’s lips in our Global London report in 2016 was the outcome and fallout of the UK’s Brexit referendum on 23 June that year. Even then, just a few months before the vote, there was a palpable hope that Britain would not do the unthinkable. Those hopes were soon dashed. With the transition period ending on 31 December 2020, the UK has officially left the EU. What does this mean for the London strategies of European firms that have maintained small but effective London offices? Is it time to pack their bags?
Despite the uncertainties non-US firms based in the City have faced in the past five years, there is notable confidence over the importance of the location and the sustainability of a London practice beyond 2021.