Asset managers cut rate of hiring in London by half on Brexit concerns

Data by LinkedIn

Job availability for roles in asset management in London has fallen by as much as half since the EU referendum, as hires in Paris and Luxembourg have ramped up, according to data by professional networking site, LinkedIn.

Fears surrounding the expected loss of passporting rights and changes to 'delegation rules' has meant the UK's asset management industry could be restricted from access to international clients, according to the FT. As a result, global fund houses have reduced hires in their London bases as a post-Brexit contingency plan, while strengthening staffing operations elsewhere in the EU. According to LinkedIn, investment groups have boosted hiring in Paris and Luxembourg since the referendum. A survey by consultancy firm EY also showed more than half of asset management firms had already...