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UK's Hammond told Goldman Sachs he wants long Brexit transition -source
July 21, 2017 / 3:49 PM / 4 months ago

UK's Hammond told Goldman Sachs he wants long Brexit transition -source

LONDON, July 21 (Reuters) - British finance minister Philip Hammond told the board of U.S. investment bank Goldman Sachs that he was pushing for a lengthy transition period after Britain leaves the European union, a source familiar with the talks said.

The source said Hammond made a presentation to the Goldman Sachs board on June 29 when chief executive Lloyd Blankfein was in London for the annual board meeting.

The source confirmed an earlier Sky News report which said Hammond had offered private reassurances that he wanted a long transition period to help banks prepare for Brexit and ease concerns of a “cliff-edge” exit from the bloc.

Goldman Sachs declined to comment. Hammond’s office did not immediately respond to requests for comment. (Reporting by Anjuli Davies and William James; Editing by Louise Ireland)

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