EY Brexit tracker finds FS firms continue to migrate staff and assets to other European cities

Dublin and Luxembourg top choices for office moves

Among UK financial services firms, 43% have moved or intend to move some operations and staff to other European destinations, while the migration of assets out of the UK to Europe has reached £1.3trn, according to the EY Financial Services Brexit Tracker.

The latest data from the tracker, which monitors 222 financial services firms, found this would take the total number of Brexit-related job moves to almost 7,600, up from 7,500 in October 2020, with Dublin and Luxembourg the most popular EU destinations for staff relocations, new European hubs or office relocations. Dublin has been chosen by 36 companies, while Luxembourg has attracted 29 companies and Frankfurt has lured 23 firms in total. Brexit Blog: Michael Gove calls for extension of Brexit grace periods EY said 24 of the largest firms, including ten banks, nine insurance prov...