UK: Reshuffling in the Brexit negotiations team – Danske Bank

Analysts at Danske Bank note that yesterday evening, UK Prime Minister Theresa May announced a reshuffling of the team responsible for the UK/EU Brexit negotiations, in a move essentially giving herself more responsibility.

Key Quotes

“May announced that going forward her Cabinet Office ' will have overall responsibility for the preparation and conduct of the negotiations' , thereby taking over the role from the Department for Exiting the EU, which was downgraded to focusing on domestic preparations.”

“The decision gives May's chief European adviser Oliver Robbins a key role following a period where Robbins frequently clashed with former Brexit Secretary David Davis. Markets reacted positively to the news with EUR/GBP falling moderately on the announcement.”