+UPDATE+
City institutions “have moved £1.3 Trillion worth of assets from UK to the EU since Brexit vote” with some transfers still ongoing.
Direct financial sector job transfers from London to the EU now approaching 10 000.
This figure does not include knock-on/supply jobs.
City institutions “have moved £1.3 Trillion worth of assets from UK to the EU since Brexit vote” with some transfers still ongoing.
Direct financial sector job transfers from London to the EU now approaching 10 000.
This figure does not include knock-on/supply jobs.
2/
One of the biggest transfers of assets is thought to be the US financial bank - JP Morgan Chase - which is still completing a transfer of almost £200 billion of assets from London to the EU.
These are estimated to be some of the largest transfers of assets in world history.
One of the biggest transfers of assets is thought to be the US financial bank - JP Morgan Chase - which is still completing a transfer of almost £200 billion of assets from London to the EU.
These are estimated to be some of the largest transfers of assets in world history.
3/
Process began in 2016 - now total figures confirmations emerging.
Interesting is also country spread of the relocation.
While Amsterdam has done well with share trading relocation - Frankfurt, Dublin & Lux have benefitted most from assets transfer.
theguardian.com/business/2021/…
Process began in 2016 - now total figures confirmations emerging.
Interesting is also country spread of the relocation.
While Amsterdam has done well with share trading relocation - Frankfurt, Dublin & Lux have benefitted most from assets transfer.
theguardian.com/business/2021/…
4/
The 10 000 highly paid finance sector job losses are estimated to approach £1 billion in yearly taxable income as well as representing a significant chunk of the city of highly paid & high skilled London employment market.
The 10 000 highly paid finance sector job losses are estimated to approach £1 billion in yearly taxable income as well as representing a significant chunk of the city of highly paid & high skilled London employment market.
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