Relevant bit:
If you go back to the period after the referendum, there were pretty dire predictions about the consequences of Brexit for the financial services world, for the City of London. And I think so far, those effects have been smaller. Now, that’s not to say that I trivialise them, discount them, and ignore them. Actually, quite the opposite. I’ve said right from the— actually, I remember saying the week after the referendum, you know, “this means we will have to work even harder to make sure we don’t become isolationist.”
But I think it has actually created opportunities. I think we have protected, and in a sense ensured, that much of the market and much of the industry remains here. And that’s been important. It’s been very important.
Barber: So, it’s not a slow puncture?
Bailey: I don’t think it is, no. I don’t think it is. But I think we have to keep working at it very hard. I mean, it’s been a very hard, very large amount of work, but it was necessary. And again, my point is I don’t take a position on Brexit. We had to respond. You know, we had to do what we had to do at that point, and that’s our job.