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Business bosses put their heads together over Brexit challenges

What happens when a Leave-backing hedge fund manager gets together with a pro-Remain former EU Commissioner?

The answer is Prosperity UK, a conference that has been taking place in London today, billing itself with the slogan "coming together to make Brexit a success".

The brainchild of Sir Paul Marshall, the co-founder of hedge fund Marshall Wace and Lord Hill, Britain's EU Commissioner prior to the Brexit vote, the event has brought together a diverse number of business leaders, politicians and trade experts to discuss the UK's future, post-Brexit, as well as mapping a possible route for Britain to become a prosperous free-trading nation once the UK has left the EU.

A glittering line-up of speakers has been taking part, among them, Jes Staley, the Barclays CEO; Douglas Flint, the HSBC chairman; Michael Spencer, the founder and CEO of financial services group NEX; Nigel Wilson, the Legal & General CEO; Carolyn Fairbairn, the CBI director-general; Helena Morrissey, the much-garlanded fund manager; Lord Wolfson, the Next CEO; Mike Lynch, the tech investor and former CEO of Autonomy and Sir Charlie Mayfield, chairman of the John Lewis Partnership.

There has also been a heavy academic input, with many of the UK's top universities represented, a reflection - in Sir Paul's words - of the system's status as one of the UK economy's biggest strengths.

What has been really striking, during the last few months, is the divergence of approach to Brexit.

While business people have, in general, rolled up their sleeves and decided to get on with things - regardless of how they voted during the referendum - politicians and parts of the media have still been fighting the battles that took place immediately before and after 23 June last year.

This has caused a good deal of frustration among business people.

Today's conference was an attempt by participants to put such divisions behind them, to facilitate a 'bringing together' of Remainers and Leavers, in order to find common ground. Both were in good voice on the conference floor and on the platforms.

The most striking thing about today's event has been the sheer optimism about the UK's economic prospects that was in evidence.

Mr Wilson, for example, talked cheerfully about how there was an opportunity to bring the prosperity seen in London to other parts of the UK. The Legal & General CEO, a Geordie, believes that cities such as Manchester, Leeds and Bristol have shown plenty of vision in making themselves attractive investment destinations but is also hopeful that his native Newcastle is also heading in that direction.

Mr Spencer spoke compellingly about how European financial centres such as Paris, Frankfurt and Amsterdam were kidding themselves if they think they can "plunder" the City of London (LSE: CIN.L - news) and argued that, if they allowed such attitudes to influence Brexit negotiations, they would instead find more business going to other destinations such as Singapore and New York.

Baroness Bottomley, the former Conservative cabinet minister who now chairs the board and CEO practice at the executive search firm Odgers Berndtson, pointed out that, in spite of uncertainties over Brexit, there is no shortage of foreign executives still hoping to take up boardroom positions in Britain.

Among the more surprising comments during the panel debates was a observation from Mr Staley that he regarded the ability to hire international talent as more important, post-Brexit, than the ability of UK financial services firms to retain 'passporting' rights enabling them to sell their products into EU markets without having to deal with local regulators.

He argued that Google's decision to make London its second largest hub worldwide, outside California, was the single most important development in the UK economy following the vote to leave the EU.

The access to talent argument was also emphasised by Nichola Dandridge, CEO of Universities UK, who pointed out that 45% of university staff and 19% of university students come from outside the UK.

Above all, though, there is keen awareness of the UK's strengths, of the talent that lies on these shores.

Omar Ali, head of financial services at professional services firm EY, stressed the resilience of the UK economy - the fact that growth has been much more robust than anyone expected in the immediate aftermath of the referendum - while Lord Willetts, the former universities minister who now chairs the Resolution Foundation think-tank that campaigns on low pay, pointed out that Britain's higher education establishments actually generate more business spin-outs, proportionately, than their much-vaunted American counterparts.

And at the heart of it all, in Lord Hill's words, was an understanding that we should just "get on with it". That means forging a constructive relationship with the EU after Britain has left.

As one Leave supporter attending the conference noted: "Far (Hamburg: FA6.HM - news) better to be a good neighbour than a bad relative."