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June 24 Addendum: Now that the world’s fifth largest (according to BBC’s newscast last night) economy has voted to leave the EU, my article posted June 23 has new significance. The overall message below remains, as exemplified in a message I received this morning from a European GC: “As of today, the biggest activity is within asset management. The legal division remains calm, and the cross function teams (which were already in place) now know that there is a busy period to come and we have time to get organized. Our eyes and ears will remain focused on UK movements but I do not expect any panic; things should unfold in an orderly manner.”

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