Brexit is an opportunity to revamp Europe’s financial landscape, according to Milan
Brexit could be a great driver for change in financial reform across Europe, according to a group established to promote business relations between London and Milan.
Select Milano chairman Bepi Pezzulli told City A.M.: "Every time you have [a shock like the Brexit vote] you also have the opportunity to create economies of efficiency and do something better."
In particular, Pezzulli pointed out that Brexit could give Milan motivation to makeover its offering to the finance industry, including creating a "cluster [of] bankers, lawyers, accountants, universities [and] research" similar to "the successful ecosystem of London".
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Unlike some other cities, which seem keen to use Brexit as an opportunity to lure banks away from London, Pezzulli said Select Milano is more interested in building a collaborative platform between the UK's capital and the Italian city and to help give London firms "a foot on the ground in the Eurozone".