Since the UK’s announcement that it would be leaving the EU Single Market, London’s banking community has increasingly made plans to relocate its City of London staff. Bosses from leading financial names including Morgan Stanley, JP Morgan, UBS, HSBC are increasingly making their intentions known to undertake mass headcount moves with some intending to have left well before Brexit actually becomes a reality in 2019.
Confusion, uncertainty and ultimately the possibility of not securing financial ‘passporting rights’ from London is driving international banking groups that are currently overwhelmingly located in the UK to quickly identify fresh pastures for their thousands of employees, and ideally before the UK actually leaves the EU.
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