UK could lose 10,000 financial jobs

Around 10,000 finance jobs will be shifted out of the UK or created overseas in the next few years if the UK is denied access to the single market, according to a survey of firms employing the bulk of workers in international finance.

Frankfurt was by far the most popular destination for the new roles, the Reuters survey showed, with Paris a distant second.

The results from 123 firms came from the first comprehensive public survey to ask the biggest banks, insurers, asset managers, private equity firms and exchanges in the UK about the specific details of their plans so far in case of a hard Brexit.