At the coalface of leadership recruiting, we have been able to see in realtime the impact of the Brexit debate - from the run up to the referendum in 2016 when hiring slowed rapidly, to the client response of moving certain operations into the EU to meet regulatory requirements in the future. The City was not particularly relevant to the ultimate Brexit agreement and stories abound about its future demise. it is inevitable that London's domination of European Financial Services will diminish. However, as this report reflects, there remains plenty of room to lead in the future and with a bit of innovation and nimbleness, the City an still play its part in driving UK economic performance over the coming decade.
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The Future is Bright
Almost 1,500 EU-based financial services firms have applied for permission to operate in the UK, with around 1,000 of these planning to establish their first UK office, according to a Freedom of Information request (FOI) by financial regulatory consultancy Bovill. With Brexit complete and the Temporary Permission Regime (TPR) now closed, these represent the final number of firms on the regime, signifying that the UK will continue to be a leading player on the global financial stage.