Paris hails arrival of finance jobs from London
More than 3,000 financial sector jobs have relocated from London to Paris as a result of the UK s vote to leave the European Union, according to a report from a lobby group in the French capital.
David Sapsted11 December 2020
With the Brexit transition period ending on December 31, no equivalence agreement has been reached between the EU and UK, which would allow British-based financial services to continue to operate freely throughout the bloc.The failure to reach such a deal has led to Miles Celic, CEO of the financial services advocacy group TheCityUK, to accuse Brussels of “regrettable politiicsation” of the equivalence assessment process.TheCityUK expects Brexit to lead to a loss of 40 per cent of the 20 per cent of UK finance directed at EU customers and Mr Celic told the House of Commons Business, Energy and Industrial Strategy Select Committee this week that Brussels had unnecessarily damaged the UK’s financial service