Two-fifths of asset managers eyeing Brexit relocations

Dublin appears to be winning most Brexit business

Brexit is forcing 39% of UK asset managers to consider moving operations and staff out of the UK, while a quarter have already confirmed a location, according to research published by EY.

EY's Brexit Tracker, which monitors public statements made by 222 of the largest financial services firms in the UK, found that of the 57 wealth and asset management firms included, ten have already selected Dublin as their domicile of choice and a further four have selected Luxembourg.   Ireland makes Brexit 'back-up' plan The UK's departure from the European Union puts in doubt the asset management industry's capacity to continue to delegate the management of funds domiciled in the bloc back to the UK. In addition, there are still unanswered questions as to whether UK investors will...