Daiwa Sees ‘Profound Impact’ of Brexit on Its London Operations
- Bank says it would need to set up new entity in another nation
- Japanese brokerage is latest firm to warn employees of effect
Brexit Polls Are Narrowing
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Daiwa Securities Group Inc., a Japanese brokerage with operations in the U.K., would have to set up a business in the European Union that replicates or replaces some functions in London if Britain votes to leave the bloc, according to a memo to employees.
“Brexit would have the potential to have a profound impact” on Daiwa Capital Markets Europe Ltd. and its London operations, the unit wrote in the document seen by Bloomberg. Hiroki Aoyama, a spokesman for the parent company in Tokyo, declined to comment.