About 10,000 UK finance jobs affected in Brexit’s first wave
London — About 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe’s single market, according to a Reuters survey of firms employing the bulk of workers in international finance. Frankfurt was by far the most popular destination for the new roles, the survey showed, with Paris a distant second. The results from 123 firms came from the first comprehensive public survey to ask the biggest banks, insurers, asset managers, private equity firms and exchanges in Britain about the specific details of their plans so far in case of a so-called "hard" Brexit. Canvassing was conducted by e-mail and telephone interviews between August 21 and September 15, weeks after companies submitted detailed plans on their Brexit preparations to the Bank of England (BoE) as required on July 14. The Bank declined to comment on the results of that survey. Nearly half of the companies surveyed said they would have to move staff or re...
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