The number of banking and finance jobs that could leave London is staggering

Departure

Worse than all the years of the financial crisis.

Up to 80,000 banking and finance jobs could be moved from London to other centres in Europe in a job exodus worse than all the years of the financial crisis because of Brexit, according to the Boston Consulting Group.

The Independent reports that BCG asked 360 leading bankers in the UK, France, the US and Germany about their thoughts on the impact of Brexit in the run up to the referendum.

They said London could be drained of 20% of jobs, worse than the 55,000 jobs lost in London's financial sector during the years of the financial crisis between 2007 and 2010.

Banking jobs including international payments transations, investment banking and trading are likely to be affected, BCG said.

Insurance, pharmaceutical and biotechnology jobs could also go, the company said.

To access the complete Independent article hit the link below:

Brexit could spark City exodus as 80,000 jobs are moved to Europe, BCG says

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