More than a thousand banks, asset managers, payments companies and insurers in t...
LONDON - More than a thousand banks, asset managers, payments companies and insurers in the European Union plan to open offices in post-Brexit Britain so they can continue serving UK clients, regulatory consultancy Bovill said on Monday.
As a first step, the companies, who until now have been able to serve UK customers directly from their home base, have applied for temporary permission to operate in Britain after Jan. 31 when the UK leaves the bloc, Bovill said, using figures obtained from Britain’s Financial Conduct Authority. Consultants EY said on Monday that large UK-based firms had now implemented plans enabling them to continue operating in the EU after Brexit. It maintained its estimate that around 7,000 positions would be relocated from London to the continent and a further 2,400 jobs created and hired for locally at the new EU hubs.
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