Scottish referendum: banks may relocate to London in case of 'yes' vote
September 11 , 2014
Leading banks and financial firms have warned that they may relocate to London in case Scotland votes in favor of independence in the historic referendum on September 18, once again focusing attention on the possible financial repercussions of a ‘yes’ vote.
Lloyds, the owner of Bank of Scotland, said it had put in place “contingency plans” that include setting up “new legal entities in England”.
Similarly, Standard Life chief executive David Nish said that while the firm was “very proud” of its Scottish heritage, it had a responsibility to protect customer and shareholder interests.
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