|
|
James Gorman, in an exclusive interview with Handelsblatt, said he still had confidence that “common sense would prevail and the British people would choose to remain in the 28-nation economic bloc.
“As a firm, we support the U.K. staying in the E.U., which we think would be good for the country and good for Europe,” Mr. Gorman said. ” If I might be allowed to flatter the British a little, I would say that they have shown an unusually high level of common sense throughout history and I hope that they will prove that again this time.”
Asked how serious the damage of a “Brexit” would be to London, Mr. Gorman responded: “Considerable. Certainly some business would migrate abroad.”
More broadly, Mr. Gorman warned that Brexit would have a clear impact on the country. “It could lead to significant consequences in a number of areas, including the economy, politics, or security,” he said.
In a wide-ranging interview, Mr. Gorman also warned that investment banks across the world faced a tough start to 2016 as fears of a global economic slowdown limited trading.