Almost half of the UK's largest asset and wealth managers have, or intend to, move staff or operations out of the country to an EU27 domicile as a result of Brexit, new research from EY suggests.
EY's financial services Brexit Tracker, which monitors public statements made by 222 of the largest financial services firms with significant operations in the UK, revealed that as of 30 November 2018, 44% of the sector have stated their intentions to move some of their operations or staff from the UK to Europe, compared to 36% of financial services as a whole. Brexit Blog: 200 MPs call on May to rule out no deal Brexit Among those that have already confirmed their intention to move staff, operations or assets to the EU are Columbia Threadneedle and M&G, which have selected Luxembourg...
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