UK BANKS AND OTHER FINANCIAL COMPANIES EXPANDING OR SETTING UP NEW OFFICES IN THE EU

UK banks and other financial companies have shifted at least $1 trillion worth of assets out of the country and into the European Union because of Brexit. Many banks have set up new offices elsewhere in the European Union to safeguard their regional operations after Brexit, which means they also have to move substantial assets there to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation. The figure represents roughly 10% of the total assets of the UK banking sector, and is a "conservative estimate" because some banks have not yet revealed their contingency plans. The financial services industry employs 2.2 million people across the United Kingdom , and contributes 12.5% of GDP. It generates $100 billion in tax revenue each year, according to the City of London Corporation.

Favoured Locations

1. Frankfurt: Frankfurt is seen as attractive in terms of supervisory stability and influence, with the presence of the European Central Bank and Deutsche Bank. The city has already attracted UBS, JPMorgan (has publicly said up to 4,000 jobs could move but only several dozen staff have moved) and Goldman Sachs (has taken a new office in Frankfurt and plans to move 500 people to Europe but has only moved or hired 100 thus far). Lloyds, Standard Chartered, Credit Suisse, Citigroup and Nomura are among the banks that are planning to expand or set up new offices in Frankfurt in light of Brexit.
2. Dublin: Dublin has tax advantages and has achieved earlier success in bringing in the European area, headquarters of big tech companies, such as Microsoft, Facebook and Google. However, its location is deemed less convenient than the London City. Barclays has already announced plans to expand into the Irish capital. Scottish asset manager Baillie Gifford is to establish a Dublin arm to Brexit-proof its business
3. Paris: Paris has an attractive location and is already home to several major wholesale banks and the EBA. Yet, only HSBC and French bankers BNP Paribas, Crédit Agricole and Société Générale have so far announced to go in the direction of the Seine. HSBC has publicly said up to 1,000 jobs could move to Paris, but thus far has not moved any staff. Bank of America is set to move 200 staff  to Paris.
4. Luxembourg: Luxembourg main selling point is its stability, together with its focus on investment funds, insurance and asset management. AIG, RSA, CNA Hardy and FM Global are examples of companies that decided to move parts of their activities to the Grand Duchy.
5. Brussels: Brussels has the presence of the European Union's main governing bodies and supervisors. Lloyds and QBE Insurance Group already made their interest known to relocate to Belgium's capital. Additionally, the Belgian government announced in July 2017 that corporate tax would be lowered from 40 percent (the highest in Europe bar Malta and France) to 29 percent by 2020.
6. Amsterdam: Amsterdam on average has a well-educated population and good financial supervision.Financial trading companies, such as Tradeweb and Radix Trading, already applied for licenses, together with Royal Bank of Scotland and Mitsubishi UFJ Financial Group. Despite that, the city struggles with the high cap Dutch law put on bonus schemes for bankers of 20 percent of their annual salary (compared to 100 percent for the rest of Europe). Royal Bank of Scotland, which expects to move 150 to Amsterdam, also has not moved any employees, an RBS source said.
7. Madrid: Madrid has an established banking sector with Banco Santander and BBVA. The country is also showing signs of recovery from the financial crisis

Top Global Investment Banks in the UK

1. JP Morgan
2. Barclays
3. Citi
4. Deutsche Bank
5. Goldman Sachs
6. Crédit Suisse
7. HSBC
8. Morgan Stanley
9. Bank of America
10. UBS
11. Société Générale
12. Nomura
13. BNP Paribas
14. Royal Bank of Scotland
15. Unicredit

100 TOP FINANCIAL ADVISERS

1. Tenet
2. JLT Group
3. Mazars Financial Planning Ltd
4. Kerr Henderson Group
5. Wilfred T Fry (Personal Financial Planning) Ltd
6. Quilter PLC
7. Raymond James Group
8. Brewin Dolphin Ltd
9. Foster Denovo
10. Tavistock Group
11. Wingate Group
12. Beckett Investment Management Group
13. Gibbs Denley Group
14. Helm Godfrey Partners Ltd
15. PI Financial Ltd
16. Independent Financial Strategies Ltd
17. Lovewell Blake Group
18. Westminster Wealth Management LLP
19. True Potential Group
20. St. James’s Place Wealth Management Plc
21. Harwood Wealth Management Group
22. Ring Associates Ltd
23. Legacy Private Wealth Ltd
24. Canaccord Genuity Group
25. Paradigm Norton Financial Planning Ltd
26. Grant Thornton Group
27. HFMC Wealth Group
28. HSBC Bank Group
29. Chantler Kent Investments
30. Succession
31. Joseph R Lamb Independent Financial Advisers Ltd
32. Perspective Group
33. Fairstone Group
34. Validpath Ltd
35. Hoyl Group
36. Chadney Bulgin LLP
37. Close Brothers Group
38. Smith & Williamson Group
39. Best Practice IFA Group Ltd
40. UBS Group
41. LEBC Group Ltd
42. Lumin Wealth Management Ltd
43. Lloyds Banking Group
44. InPartnership
45. Chase de Vere Group
46. Lonsdale Services Ltd
47. Pharon Independent Financial Advisers Ltd
48. Central Investment Services (Scotland) Ltd
49. Argyle Consulting Ltd
50. Saunderson House
51. Tilney Group
52. N W Brown & Co Ltd
53. Clayton Holmes Naisbitt Group
54. Ludlow Wealth Management Group
55. Punter Southall Group
56. Portafina LLP
57. Cullen Wealth Ltd
58. The Private Office
59. Balmoral Asset Management Ltd
60. Chartwell Financial Services Ltd
61. Wren Sterling Financial Planning Ltd
62. Pannells Financial Planning Ltd
63. Sense Network Ltd
64. Barclays Group
65. Advanta Wealth Ltd
66. Attivo Group
67. Sanlam Financial Services Group
68. Skipton Group
69. HFS Group
70. Openwork
71. Magus Private Wealth Limited
72. Grosvenor Consultancy Ltd
73. Smith & Pinching
74. Hargreaves Lansdown Group
75. Loveday & Partners Ltd
76. KW Group
77. Argent Wealth Ltd
78. Principal & Prosper Holdings Ltd
79. Calculis Financial Planners
80. Network Direct Ltd
81. LGT Vestra  
82. Clairville York Ltd
83. MacKenzie Investment Strategies Ltd
84. Lomond Financial Management
85. Investec Group
86. Beaufort Financial Planning Ltd
87. Gee & Watson Wealth Management
88. Asset Management Financial Advisers Ltd
89. Lighthouse Group
90. Skerritt Consultants Ltd
91. Russell Ulyatt Financial Services Ltd
92. Wade Financial Services Ltd
93. Charles James Financial Planning Ltd
94. Cumberland Place Financial Management
95. Estate Capital Financial Management Ltd
96. Wills & Trusts IFP Ltd
97. Lowes Financial Management
98. The Royal Bank of Scotland Group
99. Creative Advice Ltd
100. Moore Stephens Group