Frankfurt Is Winning The Battle For London’s Bankers

Since the United Kingdom voted to leave the European Union, the country’s biggest banks, investment firms and insurance companies have been observing Brexit negotiations with a high degree of anxiety. Last month, Prime Minister Theresa May warned financial companies based in the UK that they could lose full passporting rights and single market access.

That has contributed to the immense air of uncertainty across London’s financial district. That uncertainly, coupled with the slow pace of negotiations, has already prompted some companies to take action and prepare for post-Brexit life in new European hubs. Indeed, much has been made and written about the threat of financial relocations since the Brexit vote but what companies have actually followed through on those threats and shifted staff abroad?

Source: Forbes

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