|
|
According to the accountancy giant, among the large investment banks monitored in its tracker under 1,000 jobs have already relocated to the continent.
The figure represents 15 per cent of the total volume of investment banking staff currently marked for relocation to Europe from the UK.
“Given that many companies had pulled out all the stops to be ready ahead of the March deadline, much of the planning of temporary solutions for staff and operational moves has already been completed,” said Omar Ali, UK financial services leader at EY.
He added: “Financial services firms have the building blocks in place, but have so far transferred fewer staff and assets to the continent than expected.” [...]
Since Britain voted to leave the EU in 2016, 63 per cent (30 out of 48) of universal banks, investment banks and brokerages have said they are considering or have confirmed relocating operations and/or staff to Europe.
Of all the 222 firms tracked by the Brexit Tracker, just over 40 per cent (92 out of 222) have said publicly that they are considering moving or have confirmed that they are moving some of their operations and/or staff on account of Brexit.
Of these, 30 are universal banks, investment banks or brokerages; 31 are asset managers and 17 are insurers and insurance brokers. [...]
Related article on Financial Times: Brexit/City jobs: iffy on the Liffey