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Mid-sized and smaller firms not prepared for Brexit: BNP Paribas chairman

Published 03/28/2019, 01:22 PM
Updated 03/28/2019, 01:25 PM
© Reuters. A double-decker bus passes by Union Jack flags displayed by pro-Brexit supporters outside the Houses of Parliament, following the Brexit votes the previous evening, in London
BNPP
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PARIS (Reuters) - Europe's financial sector is prepared for Brexit, but that is not the case in the corporate sector with mid-sized and small firms, BNP Paribas (PA:BNPP) chairman Jean Lemierre said on Thursday.

"The financial sector from my point of view ... stands ready, I have a doubt about the corporate sector," Lemierre told a conference at the French central bank.

© Reuters. A double-decker bus passes by Union Jack flags displayed by pro-Brexit supporters outside the Houses of Parliament, following the Brexit votes the previous evening, in London

"Large companies are ready, they have contingency plans, they have created stocks of pharmaceutical products and so forth. Mid-sized and small companies are not ready and (there) will be whatever happens a disruption for them," he added.

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