Major UK Firms Thinking Of Moving HQs Out Of Britain After Brexit Vote
A recent survey conducted by KPMG may predict a major headquarters exodus from Britain.
Of the 100 CEOs that KPMG polled—each representing a firm that makes at least $130M (some top $1B) in revenue annually—76% said they were considering leaving the UK due to uncertainty following the Brexit vote, MarketWatch reports.
“CEOs are reacting to prevailing uncertainty with contingency planning,” KPMG UK chairman Simon Collins said. “Over half believe the UK’s ability to do business will be disrupted once we Brexit and therefore, for many CEOs, it is important that they plan different scenarios to hedge against future disruption.”
During her visit to the US last week to attend the United Nations General Assembly, UK Prime Minister Theresa May visited a plethora of US companies with offices in the UK to beseech them not to pull out of Britain. May met with execs from Amazon, Goldman Sachs and Morgan Stanley to hear their concerns regarding the nation and to encourage them to stay put. [MW]