Hi and welcome to another Emlex podcast. I'm Anorego, managing editor for Emlex's London Bureau.

Today we'll be exploring one of my favorite topics, how banks, insurers and other companies

operating in the city of London are preparing for Brexit as the date of withdrawal in March 2019 approaches.

In recent weeks, we've seen several UK banks, funds and insurers, unveiled plans to relocate

part of their businesses to another EU country.

But it's not just the companies that have been working hard.

Policymakers and regulators in several EU countries have started to spell out what it would

take to get the green light to operate in their countries. And the EU has drawn a red line.

It wants to avoid a surge in shell companies after Brexit. With me is Hugo Coelho,

M-X's Financial Services correspondent in London.

Hi, Hugo.

Hi, Huyna.

There seems to be more to this debate on relocation than meets the eye.

Clearly, it's not as simple as picking a country and renting an office space. So far, we haven't seen

a mass exodus from London. Will we finally start to see banks move to the continent?

You may remember that at the end of last year, the UK stopped banking lobbyists, said that the hands of bankers were hovering over the relocated button.

He was suggesting that a mass exodus from London was looming.

I think change has been much more gradual than that.

Most big banks have picked up the location for their new European hubs,

but they haven't really moved operations yet. So moving is complex and there's much uncertainty

around Brexit. I think companies are planning for the worst, but keeping changes at a minimum

and delaying them for as long as possible. But pressure is increasing, obviously,

...