UK Loses £1.2T And 7,500 Finance Jobs To Europe, EY Says

Law360, London (October 1, 2020, 11:58 AM BST) -- Britain has lost £1.2 trillion ($1.5 trillion) of assets and more than 7,500 finance jobs to Europe since it voted to leave the European Union in 2016, according to data released on Thursday, as banks, insurers and asset managers prepare to lose access to their clients in the bloc at the end of the year.

Ernst & Young said that financial services companies based in Britain are making preparations to continue serving clients in the EU with three months to go until the Brexit transition period ends, with a steady stream of staff, assets and operations leaving the country.

British companies will not...

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