Brexit Banks Eyeing Europe Face Hurdle on Risk-Model Check

As banks based in the U.K. consider whether to begin moving some operations, the institution that would grant them access to the euro zone is just starting to think about how to manage an influx.

If a global bank were to relocate from London to Frankfurt or Paris to keep access to the single market, it would need European Central Bank authorization that depends on a host of factors from the CVs of its management to the readiness of its IT systems. Yet one of the most complex parts of a major lenders’ organization could become the bottleneck in the ...