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London Bankers Face Location Limbo as ECB Targets Brexit Moves

  • EU regulators flexible but want to see progress on staff moves
  • Banks keep options open as talks for EU access continue
Workers in City of London Hit Highest Rate Since March
Photographer: Simon Dawson/Bloomberg

Young bankers waiting to learn when or whether they might be relocated to the European Union can take some solace from the fact that oftentimes, their bosses also don’t know their own fate.

A senior banker hired to work in London last year was asked just weeks later to pack his bags and move to Europe. Some trading managers at one U.S. bank still don’t know whether they’ll be able to stay in the U.K., while a young trader starting a new job at a European lender this month is waiting to learn just where that job will be.