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Edwin Hayward @uk_domain_names
, 3 tweets, 1 min read Read on Twitter
Bank of America has spent between $300 and $400 million preparing for Brexit, including establishing new subsidiaries in Paris and Dublin, moving staff etc. As with all such preparations, it's all "wasted money" they wouldn't have had to spend ordinarily.
bloomberg.com/news/articles/…
And before anyone cries "fake news", publicly traded companies like BoA face very strict rules about what they can say financially, in case it moves their share price and affects the markets. So you can bet that if their CEO says that's what they've done, it's what they've done.
And if you're wondering "well, why the range in his estimate?" I would assume it's because not all the preparations have been completed yet. With such a massive project going on across multiple countries, it won't be until the dust settles that they will know the exact cost.
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