UBS chairman: City would get 'favourable deal' in event of Brexit

Would not undermine UK as financial centre

The chairman of UBS Axel Weber has said Britain will get a "very favourable deal" if it leaves the European Union, which would prevent any adverse effect on the City of London.

Weber (pictured), formerly head of Germany's central bank, said the deal would not undermine the UK's dominance as a financial centre. Speaking at a Wall Street Journal event in London, he said while an exit from the EU could mean it is more difficult for firms to access markets, the UK would be able to negotiate a deal to prevent this. Weber said: "If the UK were to leave the EU I think there would be two or three years of heightened uncertainty but pretty much the same rights. What impact would a 'Brexit' have on financial services? "The UK would get a very favourable deal wit...