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

44% of firms plan to relocate

clock • 2 min read

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week