AMWatch

Large asset managers expand EU staff – Brexit likely to erode London's status

While the UK will remain Europe's dominant investment hub, asset managers' EU headcount will gradually increase at the expense of London, believes Nicolas Mackel, chief executive of Luxembourg for Finance lobby group.

London. | Photo: Pexels: Andrés García.

Big asset managers have expanded their combined EU workforces by 38 percent over the past five years in response to the growth of the market, Brexit uncertainty and increased regulation, reports the FT.com.

According to figures compiled by the Financial Times, ten of the world's biggest asset managers, including Amundi, Vanguard and Invesco, now employ almost 7,000 people in Europe, excluding the UK.

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