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Catherine McGuinness, in practice the political leader of the historic financial district's municipal body, says Britain and the EU must agree the outlines of any transition before the end of the year or it will be too late.
McGuinness, a financial lawyer and finance industry veteran who is in regular contact with the government over policy issues, said some firms in the sector have started relocating parts of their businesses overseas amid frustration at the lack of clarity about what any Brexit deal may look like.
"People need to know now," McGuinness said in an interview, adding firms may move up to 15,000 finance jobs without any deal. "Decisions are already being made."
"We need a clear pledge from both sides of a transition period so that there is clarity for business," she said. "We need this as soon as possible, ideally by the end of the year." [...]