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Euronext CEO: flows of capital already moving to Europe due to Brexit

Euronext CEO: flows of capital already moving to Europe due to Brexit
FILE PHOTO: The logo of stock market operator Euronext is seen on a building in the financial district of la Defense in Courbevoie, near Paris, France, May 14, 2018. REUTERS/Charles Platiau/File Photo -
Charles Platiau(Reuters)
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PARIS (Reuters) – Flows of capital have already moved over to continental Europe as a result of Brexit, said the head of pan-European stock market operator Euronext on Tuesday.

“A significant part of the flows to the continent have already migrated on the continent, even though staff haven’t massively moved already,” said Euronext chief executive Stephane Boujnah.

He added that as far as capital flows were concerned, Brexit had already happened and was irreversible.

“Market operators cannot afford to have the same decision-making volatility as politicians,” added Boujnah, speaking on the sidelines of a Paris banking conference. 

(Reporting by Inti Landauro; Editing by Sudip Kar-Gupta)

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