Tidjane Thiam, the chief executive of Credit Suisse, which has cut close to 2,000 jobs in London this year, told CNBC that Brexit has so far had "no impact" on its business, but that the bank is "ready to adapt" if it does.
His comments come amid fears of a gradual exodus from the City, London's financial services center, to elsewhere in Europe, when the U.K. leaves the European Union.
Credit Suisse has already cut 1,800 jobs in London this year as it restructures its business and moves some jobs to lower cost countries like India and Poland.
"We have been very cautious, because everybody knows what the uncertainties are – (for example) Brexit – and no-one knows how it is going to play out," Thiam added.
"We have to look for where there is profitable growth and push capital towards those areas ... Our plan has been to fundamentally reduce our footprint in London."