More and more UK financial services firms are making job cuts because of Brexit, with risk and compliance roles among those most under threat, according to analysis by Talent Ticker, which monitors staffing trends.
Data held by the firm reveals an increase in the number of UK financial services companies expanding to open European offices, or completely relocating from the UK in favour of offices in EU member states.
The numbers show, for example, a 30%increase in banks making job cuts compared to the same period of 2017. This suggests that the UK could be losing out as a result of Brexit, said AI platform Talent Ticker.
The financial services roles most at risk include risk and compliance, operations, sales, trading, middle office and private banking, according to the firm.
Ireland, France and Germany are the most prominent countries likely to see an influx of financial services employees, according to Talent Ticker, with Frankfurt the most popular destination. Luxembourg is also a likely place for relocation.
Should a no-deal Brexit happen, Talent Ticker predicts that more and more financial services firms will move out of London to allow them to continue trading within the EU.
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