Brexit risk prompts fund giants to consider move to Europe

Some of the UK's largest asset management firms are preparing to quit their London bases if the country votes to leave the European Union, according to reports.

Several large asset managers based in London have set up committees to prepare for a move, the Sunday Times has reported, ahead of the UK's in/out referendum on EU membership due to be held by 2017. Firms told the paper they could be required to move their businesses to countries such as Ireland and Luxembourg, due to European regulations which require firms to be headquartered on the continent if they wish to sell investment products to the region. UK groups' ability to freely access the EU market would be called into question in the event of a Brexit, the paper added. Richard Met...