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Mid-sized and smaller firms not prepared for Brexit - BNP Paribas chairman

Mid-sized and smaller firms not prepared for Brexit - BNP Paribas chairman
Jean Lemierre, Chairman of BNP Paribas speaks at the 28th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 16, 2018. REUTERS/Ralph Orlowski   -   Copyright  RALPH ORLOWSKI(Reuters)
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PARIS (Reuters) – Europe’s financial sector is prepared for Brexit, but that is not the case in the corporate sector with mid-sized and small firms, BNP Paribas chairman Jean Lemierre said on Thursday.

“The financial sector from my point of view … stands ready, I have a doubt about the corporate sector,” Lemierre told a conference at the French central bank.

“Large companies are ready, they have contingency plans, they have created stocks of pharmaceutical products and so forth. Mid-sized and small companies are not ready and (there) will be whatever happens a disruption for them,” he added.

(Reporting by Leigh Thomas; editing by John Irish)

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