| London to lose £700bn as banks leave (...) for Frankfurt |  |
lobby group claims:
[https://www.standard.co.uk/news/politics/brexit-news-latest-london-to-lose-700bn-as-banks-leave-capital-for-frankfurt-lobby-group-claims-a4003641.html]
"London will lose up to £700 billion to financial rival Frankfurt by the end of March as banks flee the UK ahead of Brexit, a lobby group has claimed.
At least 30 banks and financial firms are set to move their EU headquarters to Germany, according to lobby group Frankfurt Main Finance.
Other banks could spread their operations across multiple cities. The number of firms setting up in Frankfurt could be as high as 37, the lobby group has claimed.
It expects up to 10,000 jobs to move to Frankfurt, which is Germany’s fifth biggest city, over the next eight years.
Lloyds, Standard Chartered and Credit Suisse are among the banks that are planning to open offices in Frankfurt because of Brexit."