Brexit
Five years after the U.K.’s historic referendum vote, data showing the true impact of Brexit has been distorted by bigger problems.
Some 43% of the U.K.'s largest financial services firms have moved or plan to move some operations and/or staff to Europe.
The EU is unlikely to grant U.K.-based financial firms automatic market access in all areas post-Brexit.
The U.K.'s standing among global financial centers may have been dented by Brexit, but it remains the largest in Europe by far.
Money managers and insurance firms have transferred more than $138.2 billion in assets to Europe as a result of Brexit.
Financial services firms are continuing to move operations and staff out of the U.K. and into the European Union, albeit at a slower pace.
The European Union's post-Brexit requirements for financial services market access are unrealistic, the Bank of England governor has warned.
The U.K. is to begin talks this week with the European Union on how regulators will cooperate over financial services.
A trading deal the City of London has sweated over for almost half a decade looks like it's finally here.
J.P. Morgan told some 200 staff to plan to move out of London because it sees little prospect of the U.K. winning a financial-services deal.
