EU fund managers expect to leave UK following Brexit

Less than half of the EU-national fund managers working in the UK plan to continue doing so after Brexit, a survey by the Chartered Financial Analyst Society shows.

According to Bloomberg, 42 per cent of EU nationals said they would stay in the UK, 16 per cent said they were already planning to leave and the remainder were undecided.

The vast majority (91 per cent) of EU respondents said the competitiveness of the UK as a financial centre had deteriorated since the Brexit referendum in June last year. In comparison, 71 per cent of UK respondents thought it had.

CFA Society UK chief executive Will Goodhart says: “While many of the outcomes of Brexit remain unclear, we can certainly expect a change in the profile of the investment management workforce in the UK.

“Many EU professionals working here intend to move to other markets once Britain has left. We may see this increasing over the coming months.”

The survey involved 1,109 investment professionals. Around 330 were EU nationals.