Just under a fifth of financial services companies have publicly confirmed at least one relocation destination in Europe, while 31% of firms are considering or have announced moving some operations or staff out of the UK, according to the latest EY Financial Services Brexit Tracker.
The tool monitors the public statements made by 222 of the largest financial services firms with significant UK operations in the run-up to Brexit. According to the tracker, Dublin and Frankfurt remain the most popular spots for relocation, attracting 14 and 12 firms respectively since the UK voted to leave the European Union. The majority of these groups are asset managers, universal banks, investment banks and brokerages. Luxembourg is the next most popular destination, attracting eight companies, followed by Paris on six. However, although the number of companies announcing relocat...
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