08:56 GMT +318 October 2019
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    American Express Establishes Special Team to Assess Brexit Scenario

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    American Express is tracking the situation around the upcoming Brexit vote, having organized a special team to prepare for the consequences of possible withdrawal of the country from the European bloc, company’s spokeswoman Marina Hoffmann Norville told Sputnik.

    MOSCOW (Sputnik) On Wednesday, Western media reported that Danish investors and pension funds may start repatriating billions of dollars in assets to protect themselves from currency losses amid doubts that Brexit could send markets into turmoil.

    “American Express is closely monitoring developments and has established a team to undertake scenario & contingency planning to address the range of potential outcomes,” the American Express Vice President for corporate, financial & risk public relations, said.

    A recent poll by YouGov revealed Tuesday that the number of supporters and opponents of the UK membership of the European Union stands at 41 percent each for the second week in a row.

    Referendum on the UK European Union membership will be held on June 23. Supporters of the UK exit from the bloc argue that EU membership has eroded Britain’s independence to legislate, direct its economy and control its borders. Proponents of the Stay campaign have argued that exit from the 28-nation bloc would devalue the national currency and hurt the country’s economy.


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