LSE CEO sees Brexit risking 232,000 jobs, market stability

CEO Rolet joins HSBC, Allianz Global Investors in warnings

London financial bosses entered 2017 with renewed warnings about the potential impact of Brexit.

Speaking in testimony Tuesday before the Treasury Select Committee in the capital, London Stock Exchange Group Chief Executive Officer Xavier Rolet outlined the most dire threats should officials fail to implement an orderly transition out of the European Union. Rolet said the impact wouldn’t just lead to 232,000 job cuts and the loss of the UK’s vital clearing business, it would pose a risk to broader financial stability.

Testimony from HSBC Holdings Chairman Douglas Flint and Allianz Global Investors Vice-Chairman Elizabeth Corley echoed Rolet’s warnings on the need