TD News International
Dublin and Frankfurt profit from Brexit
So far, Frankfurt has profited the most from Brexit, along with Dublin and Luxembourg. This is demonstrated by the "EY Brexit Tracker", which monitors 222 financial companies that conduct business activities in the UK. Of these, 27% have announced they will move business and staff to EU countries as a result of Brexit. By comparison, at the end of March, the figure was at 23%. Of the 53 institutes, 19 were considering Dublin, 18 Frankfurt and 11 Luxembourg and the remainder did not have any cities on the short list. The different location preferences also show that there is no convincing alternative to London, says Omar Ali, UK Financial Services Leader at EY.
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