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Brexit Prompts 7,500 City Jobs, $1.6 Trillion to Leave U.K.
- Firms relocating staff and shifting assets, according to EY
- Flurry of further moves seen as end of transition period looms
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Financial services firms operating in the U.K. have shifted about 7,500 employees and more than 1.2 trillion pounds ($1.6 trillion) of assets to the European Union ahead of Brexit -- with more likely to follow in coming weeks, according to EY.
About 400 relocations were announced in the past month alone, the consulting firm said in a report on Thursday that tracks 222 of the largest financial firms with significant operations in the U.K. Since Britain voted to leave the bloc in 2016, the finance industry has added 2,850 positions in the EU, with Dublin, Luxembourg and Frankfurt seeing the biggest gains.