Brexit Spurs Financial Jobs, Assets to Flee London, EY Says

Financial services assets worth 1 trillion pounds ($1.3 trillion) are moving out of London to financial hubs elsewhere in the EU ahead of Brexit, an increase of 200 billion pounds since Nov. 30, 2018, according to Ernst & Young LLP.

About 7,000 jobs are likely to leave the U.K. as banks, asset managers, and insurers open or expand European Union offices to avoid chaos from Brexit, EY said in its March 20 EY Brexit Tracker report.

• The U.K. is scheduled to leave the EU on March 29 with no deal in place, although Prime Minister Theresa May has asked ...