Theresa May hasn’t been on the job as Prime Minister of the United Kingdom for long, but er, that doesn’t mean she’s been perfectly in tone with her newest credentials just yet.
Reports in America indicate that execs from top American banks like Goldman Sachs; JP Morgan and the like reportedly met with May in a round table meeting this weekend to discuss the world of finance in London. The issue? Bankers in America apparently feel that May hasn’t stepped up to the plate to specifically meet American interests in London.
Which is a problem. Bankers have reportedly threatened to pull their activities and business out of the booming financial centre that is London if May doesn’t offer up a few substantial changes that meet their demands.
THE BIG ISSUE AT HAND
Big bankers are arguing with PM May over their passporting status. Passporting allows foreign banks to conduct services throughout Europe and the like by exercising their right of establishment or simply providing cross border services. A feat, that May apparently isn’t that big of a fan of.