Ready for Brexit
Rathbones is well-prepared for all Brexit scenarios. We are, of course, monitoring Brexit-related developments and their impact on investment markets very closely. Equally, in common with all major UK financial services businesses, we have, for several months, been planning for any implications Brexit could have for us as a company. Overall, we expect the impact of even a hard Brexit on Rathbones to be limited.
Rathbones is a UK business with no operations in other European countries, no notable dependencies on goods, services or people from other European countries and our clients are predominantly in the UK. Brexit may have some implications for our European resident clients, but it is important to stress that these will likely remain uncertain for some time. We will keep European resident clients informed of developments. In the meantime, we will ensure that we continue to deliver our services to all clients as normal.
Brexit will not have any impact on how we hold client assets; the security of investments with Rathbones remains assured. We hold client investments through a combination of our own separate nominee companies (in the case of UK investments) and third-party custodians (in the case of non-UK investments). Our third-party custodians are global institutions ranking amongst the biggest banks in the world. We hold cash balances within client portfolios on our own balance sheet, which has over £2.7bn of total assets (as at 31 December 2018). We continue to hold regulatory capital well in excess of the minimums required by our regulators to guard against unexpected events.
Naturally, we remain very focused on the implications of Brexit for the investments we manage. If you would like to keep up to date with our latest views on the investment implications of Brexit, please see here.
Please be assured that, in spite of the considerable political uncertainty, we are making every effort to ensure that we maintain business as usual. If you would like to discuss the potential implications of Brexit for your portfolio, please do not hesitate to get in touch with your usual contact at Rathbones.