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City firms made plans in Brexit run-up to move assets worth £100bn to EU – survey – The Guardian

Data from EY highlights last-minute transfers in order to hold on to European business

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Financial sectorData from EY highlights last-minute transfers in order to hold on to European business
City firms revealed in the final months of 2020 that they planned to shift nearly £100bn in assets to the EU, taking the total value of assets lost to the bloc since the Brexit vote to £1.3 trillion, according to a new survey.
The data from consulting group EY pointed to a last-minute push by firms before 31 December after the UK-EU trade deal did not offer concessions for the UKs dominant financial…

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