UK could lose 30,000 banking jobs after Brexit

According to thinktank Bruegel

Brexit could cost the UK some 30,000 banking jobs as €1.8trn worth of assets relocate to the continent, according to a report by a European thinktank.

Brussels-based research group Bruegel forecasts up to 17% of the UK banking system could choose to move away from Britain as its exit from the European Union threatens their trading activities, according to Bloomberg. Following discussions with market participants, the researchers estimate 35% of banking activities in London are conducted with customers within the EU. As the UK heads for a 'hard Brexit', which will likely put an end to passporting across the bloc, many of these global banks could be forced to move their operations to European countries to continue conducting business....