Boston Consulting Group (BCG) has reportedly warned that up to 80,000 finance and banking jobs could be moved from London to other centres in Europe because of Brexit.
The Independent newspaper said BCG surveyed 360 leading bankers in the UK, France, the US and Germany about their thoughts on the impact of Brexit in the run up to the referendum.
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They said London could be drained of 20 per cent of jobs, worse than the 55,000 jobs lost in London's financial sector during the years of the financial crisis between 2007 and 2010.
Banking jobs including international payments transactions, investment banking and trading are likely to be affected, BCG was reported as saying.
It is also said insurance, pharmaceutical and biotechnology jobs could go.
Dr Wolfgang Dorner, banking expert and head of BCG Frankfurt, reportedly urged German cities and companies to welcome the influx of professional staff.
He said German cities: "Should prepare for job relocations in various industries and actively seize the opportunities offered by this influx of qualified workers."
Boston Consulting Group (BCG) has reportedly warned that up to 80,000 finance and banking jobs could be moved from London to other centres in Europe because of Brexit.
The Independent newspaper said BCG surveyed 360 leading bankers in the UK, France, the US and Germany about their thoughts on the impact of Brexit in the run up to the referendum.
They said London could be drained of 20 per cent of jobs, worse than the 55,000 jobs lost in London's financial sector during the years of the financial crisis between 2007 and 2010.
Banking jobs including international payments transactions, investment banking and trading are likely to be affected, BCG was reported as saying.
It is also said insurance, pharmaceutical and biotechnology jobs could go.
Dr Wolfgang Dorner, banking expert and head of BCG Frankfurt, reportedly urged German cities and companies to welcome the influx of professional staff.
He said German cities: "Should prepare for job relocations in various industries and actively seize the opportunities offered by this influx of qualified workers."
