The chairman of one of Europe’s biggest banks said on Tuesday that if the UK decided to leave the European Union it probably wouldn’t deal a major blow to London’s status as one of the world’s top financial hubs.

Axel Weber, chairman of Switzerland's UBS, said at a November 10 event hosted by The Wall Street Journal that Britain would probably be able to negotiate a deal giving it access to the EU's vast single market for goods and services if its citizens vote to leave in a coming referendum.