Brexit likely to move 7 000 high-paid finance jobs to continent and hit Sweden's exports

Whilst thousands of high-paid finance jobs are expected to move from the UK to the continent due to Brexit, Britain's departure from the EU will also hit Swedish exports.

Photo: Bloomberg

Financial services companies have committed to move about GDP 1tn (EUR 1.16tn) of assets out of the UK into Europe as the industry triggers its worst-case contingency plans with no Brexit deal in sight, reports Financial Times.

The estimate, which is based on a study by Ernst & Young and covers client assets and cash moved out of the UK by banks and fund managers, has increased by GDP 200bn since the last survey in January. The number of jobs likely to move to the continent has remained at about 7,000, and about 2,000 new Europe-based roles have already been created since the June 2016 referendum.

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