UBS warns 30% of UK jobs at risk after Brexit vote

Jobs could be moved to Europe

UBS has become the latest financial institution to warn UK jobs could be lost in the wake of Brexit, with up to 30% of the UK workforce at risk.

The Swiss bank said 1,500 jobs could be lost from the UK and moved abroad as a result of the outcome of the EU referendum in June. Chief executive Sergio Ermotti said 20%-30% of the 5,000 employees in London could be affected by the changes. The firm also employs 20,000 people in Switzerland. Speaking to newswire Nikkei, Ermotti said: "We currently employ more than 5,000 people in London, and probably 20% to 30% of our workforce could be affected.  "We believe that London will continue to be an important financial centre, although maybe not as important as it is today." However,...