London's Financial Center to Suffer From Brexit in Short-Term but the Long-Term Outlook Is Positive

What will the European banking and capital markets systems look like after Brexit?
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London's financial center is likely to suffer from the impacts of Brexit in the short-term, but the longer-term outlook is more positive, according to Arnaud de Bresson, CEO of Paris Europlace.

"In the short-term London will lose part of its activities and its jobs - Paris is very well positioned because it is the number one financial center in the European Union," he said. "In the longer-term, our view is that all of this evolution will be favorable to develop the European capital markets as a whole - they will become bigger for the interests of Paris, but also for the interests of London."