Friday 20 January 2017

'We've no plan to cash in on Brexit,' says finance chief

Stock Exchange boss says chance to attract jobs is once in a lifetime

Colm Kelpie and John Downing

Published 21/10/2016 | 02:30

Deirdre Somers: ‘Brexit is all upside in the short-term’ Picture: Bloomberg
Deirdre Somers: ‘Brexit is all upside in the short-term’ Picture: Bloomberg

The head of the Irish Stock Exchange has warned she has not seen any "cohesive or coordinated" plan to capitalise on the Brexit vote in the financial services sector.

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Deirdre Somers said the country was in danger of blowing a "once-in-a-lifetime" opportunity to attract further investment in the area following the UK's decision.

Dublin has been tipped as a contender to attract operations either based in London, or thinking twice about setting up in the UK.

But Ms Somers told a seminar in Dublin she has not seen any strategy to turn Brexit to Ireland's advantage.

"Maybe there is a plan somewhere and I'm just not party to it, but certainly I am unaware of a coordinated, cohesive approach to what is a career-defining disruptive event for financial services," Ms Somers said. "This is a once-in-a-lifetime opportunity for Ireland."

Meanwhile, a former PSNI senior officer has warned Brexit could lead to "civil unrest" in Northern Ireland. Former assistant chief constable Peter Sheridan said protests could become more dangerous if people felt their identity was being compromised.

Irish Independent

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