"The Chancellor and I are both determined to ensure we get the best possible deal for our financial services sector, a crucial part of our economy, and not just for the city of London but for the country more widely," Davis said at the House of Commons meeting.
The Brexit secretary stressed that Britain must remain capable to attract the brightest and the best employees from overseas after the UK leaves the European Union.
"It is not going to be in the national interest to restrict the movement of talent, if you like, the free movement of brain power… We can be very confident that we will not be limiting highly intelligent and highly capable people’s access to the UK," Davis said.
On June 23, the United Kingdom held a referendum in which 52 percent of voters chose to leave the European Union. On October 2, UK Prime Minister Theresa May said that the country would trigger Article 50 of the EU Lisbon Treaty by the end of March 2017 to start the official procedures to cease its EU membership.
Article 50 states that any country that wishes to leave the European Union must formally inform the European Council about its decision and then will have a period of two years to negotiate the terms of its withdrawal.