EY: Post-Brexit operational relocations stabilise five years on from Article 50 trigger

44% of firms plan to relocate

clock • 2 min read
£1.3trn UK assets slated for transfer to EU
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£1.3trn UK assets slated for transfer to EU

Five years since the UK triggered Article 50 to leave the EU, and the number of financial firms that have moved or plan to relocate has stabilised, according to the latest EY Financial Services Brexit Tracker.

Since the UK's referendum to leave the EU, called by the Conservative government under David Cameron, 97 out of 222 of the country's largest financial services firms have announced plans to move some UK operations and staff to the EU. In the six years following the referendum, 24 firms publicly declared they will transfer just over £1.3trn in UK assets to the EU as a result of the vote - a figure which EY said has remained "broadly flat" over the past 18 months. The Brexit tracker shows that Brexit-related operational announcements have stabilised, as "strategic commercial decisions a...

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