After Britain leaves the European Union, it will be harder to work with employees from Europe. Because of this, some banks are already moving their stuff from the British Isles and expand operations outside London. The Bank of England expects the country to lose up to 75 thousand of financial services jobs.
In the meanwhile, at the beginning of October, the Bank of England Deputy Governor Sam Wood estimated a figure of 10,000 job losses, after the country’s departure from the EU, in a Reuters survey as reasonable. More accurate forecast for financial services can be made when the parties agree on the Brexit conditions.
London is justly though to be one of the Europa’s largest financial centers, conducting more currency trading operations than many other European countries. Now more than a million of people from the EU work in financial services, amounted for last year £61 billion or $81 billion.