The Brexit Banker Exodus Gains Momentum

By Gavin Finch, Hayley Warren and Tim Coulter
Last updated:

Brexit is two years away but the exodus of finance jobs is starting to take shape. The question is how many will leave, and where will they go?

Deutsche Bank today said some 4,000 jobs could be at risk when Britain leaves the European Union, with a likely outcome the loss of rights to sell products freely across the region.

TheCityUK lobby group forecasts that as many 70,000 financial services jobs are at risk, though estimates vary widely. The implications for the U.K. are substantial: finance and related professional services bring in some £190 billion ($240 billion) a year, representing 12 percent of the British economy.

We’re tracking jobs that the banks say they plan to move, with updates to follow.

Here’s where U.K. banking jobs might be headed

Deutshce

Bank

9,000

Destination

not known

 

 

JP Morgan

 

 

UBS

 

Goldman

Sachs

 

2,500

Frankfurt

Morgan

Stanley

 

1,000 Paris

HSBC

Barclays

150 Dublin

Deutsche Bank

9,000

Destination

not yet known

 

 

JP Morgan

 

 

UBS

 

2,500

Goldman

Sachs

 

Frankfurt

Morgan

Stanley

 

1,000 Paris

HSBC

150

Dublin

Barclays

Deutsche Bank

9,000

Destination

not yet known

 

 

JP Morgan

 

 

UBS

 

2,500

Goldman

Sachs

 

Frankfurt

Morgan

Stanley

 

1,000 Paris

HSBC

150

Dublin

Barclays

Banks weighing moving jobs from the U.K. to these cities

UBS

jobs moving to Frankfurt, Madrid and

 

1,500

likely elsewhere

Goldman Sachs

1,000

jobs moving to Frankfurt

HSBC

1,000

jobs moving to Paris

Barclays

150

jobs moving to Dublin

Goldman Sachs

 

UBS

 

HSBC

 

1,500

1,000

1,000

jobs moving to Frankfurt, Madrid

jobs moving to Frankfurt

jobs moving to Paris

and likely elsewhere

Barclays

 

jobs moving to Dublin

150

Jobs at risk based on available data

Job moves reported
U.K. staff