Eighty-five per cent of asset management professionals expect their company to move staff to Europe following the UK’s vote to leave the European Union, according to a new survey.
Seven per cent say their companies have already started to relocate investment staff and 25 per cent say planning is underway to do so, according to the PwC/FTfm survey.
644 professionals from 400 asset management firms were polled.
The survey also found that 70 per cent of industry professionals expect asset management to lose passporting.
M&G has already announced it is planning a Irish funds business amid concerns Brexit could dent its business.
Columbia Threadneedle has said it plans to expand its Luxembourg business.