Brexit Pushes Finance Firms To Move £1T In Assets To EU

Law360, London (April 16, 2021, 12:15 PM BST) -- Brexit has pushed British finance companies to shift £1 trillion ($1.4 trillion) in assets to the European Union to allow them to continue serving customers within the bloc, a report published on Friday reveals.

More than 440 banks and finance businesses have moved or are moving parts of their operations from the City of London and Britain to the EU, a think tank has said. (iStock) The flow of capital across the English Channel shows that businesses are adapting to the prospect that no market-access deal for financial services is on the horizon.

More than 440 banks and other finance businesses...

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