According to a recent article in London’s Financial Times, an increasing number of financial services companies in the UK are fleshing out plans to move people to an EU city other than London because of Brexit. The article was based on input from EY, the accounting firm.
As of September 2018, 77 of the companies followed by EY said they were considering moving staff to elsewhere in Europe. These financial firms included 28 banks and brokerages, 22 wealth and asset managers, and 15 insurers and brokers.
According to EY, over the past quarter, more and more of these companies have referred to the risk of a “hard or no-deal Brexit” when discussing their plans.
At Saunders 1865 we’ve been having conversations with corporate clients about their Brexit plans for many months now. What we’re hearing chimes with the information that EY have put out. However, financial firms are finding it a challenge persuading people to leave London behind.
For this reason, I think a lot of moves are still being delayed until the last possible moment in hopes that the UK government will pull a white rabbit out of the hat and come to a deal with the EU that avoids the need for such moves. It’s a gamble and it’s a risky one. I believe the chances of a no deal Brexit are getting more and more likely every day. It’s time to get on with moving the right people to the right locations.
Our corporate clients are working on that and they recognise that it’s very important to provide the highest quality of relocation support to sweeten the pill. It’s important to accentuate the positive for those who need to be moved to an EU bloc city – and to make it as easy as possible for them.
Saunders 1865 has been moving key employees for the world’s leading financial services companies for more than 3 decades. Do start a conversation with us sooner rather than later! Call us today on +44 20 7590 2700 or 239 530 1865. Please do get in touch if you require further info. or send an email to email@example.com
The services provided to me and my firm were outstanding. Everyone we dealt with demonstrated the utmost level of service and assistance. I found that all of my inquiries were handled on a very timely basis, the responses to these inquiries were thorough and helpful and the team at Saunders 1865 were always keeping me informed and up to date (vs. me having to probe for updates). Everyone that we worked with at Saunders 1865 was a delight and I would not hesitate to use the firms services again for future relocation.
Bryan Miller, New Jersey