Davos WEF
Davos WEF

Don't expect an exodus from the city post-Brexit: CEO of Barings

Asset management is transforming: Barings CEO

The U.K. is getting ready to tear apart its membership of the European Union, but ultimately London's financial district should remain mostly intact, the chief executive officer of Barings told CNBC.

"I don't think you will see a mass exodus from the City (of London)," Tom Finke told CNBC at the World Economic Forum in Davos, Switzerland.

One of the main concerns regarding the British departure from the EU has been the future of the financial services industry, which is crucial for the economic performance of London.

According to Finke, there might be some jobs that will disappear in coming years but due to technological development and high living costs in big cities such as London.

Trump means asset management old game is long gone: Barings CEO

"Certainly Brexit is a change for a lot of asset managers, like ourselves that have big presences in London. Fortunately for us for years we've taken a European view," Finke told CNBC.

He added that Brexit is not going to be "a big shift" thanks to the many funds they have overseas, including in Ireland, which will allow them to keep doing business as usual.

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