International banks operating in the UK will move from London to their other units because of Brexit less than 4.6 thousand jobs, or about 6% of the state of London, according to the Financial Times newspaper.
Earlier, analysts from various consulting companies predicted that with the release of the country from the EU, the City of London would lose tens of thousands of jobs. So, EY this week gave a forecast, according to which about 10.5 thousand bank employees will move from London, mainly to Frankfurt and Dublin.
The FT study is based on an analysis of public statements by representatives of 15 major international banks and their interviews on the situation around Brexit.
So, according to the newspaper, only 350 employees of Deutsche Bank will leave London and will be transferred to work in other regions, instead of 4 thousand employees, which in April was spoken by the head of the bank’s department for work with regulators Silvia Materat. JPMorgan, according to the forecasts of the FT, will transfer about 700 jobs from the British capital by April 2019, and not 4 thousand – the figure that was sounded by the bank’s CEO Jamie Dimon.
Meanwhile, analysts say that the uncertainty about the conditions of Brexit is still high. In particular, if banks have to transfer part of their trading operations to the territory of continental Europe, the number of jobs that London will lose will be higher, since the trader will be followed by employees involved in risk management, monitoring of banking products and compliance, the top manager of one from large banks, who wished to remain anonymous.
Another issue is that banks depend on large corporate clients, and their employees will follow where the offices of such companies will move. At the same time, many international corporations have not yet decided on where to place their European centers after Brexit.
