ING boss: London banker layoffs likely in Brexit scenario

ING bank will likely layoff a number of London staff members if the United Kingdom decides to withdraw from the European Union, the so-called Brexit, CEO Ralph Hamers said to Bloomberg. Hamers' statement follows a similar statements from HSBC Holdings last week and other financial institutions. "If some of the mega banks, the market banks, leave London, we will go with the flow", Hamers said in an interview with Bloomberg. "Either the circus of the financial markets is located in London or its going to be somewhere else." According to Hamers, a Brexit would be "bad news for the EU, bad news for business", because London "attracts a lot of talent, not only English talent but also international talent." ING runs global investment banking and emerging markets operation from London. The bank has about 650 employees in the city. The United Kingdom is holding a referendum on the Brexit on June 23rd.