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Germany, Ireland, Luxembourg top choices for post-Brexit EU financial business

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Germany, Ireland, Luxembourg top choices for post-Brexit EU financial business

With Britain's exit from the European Union fast approaching, Germany, Ireland and Luxembourg have established themselves as the top destinations for financial companies looking for a new European base, data compiled by S&P Global Market Intelligence shows.

Ireland and Luxembourg have attracted interest from 19 companies, and Germany 18, amid concerns about future access to EU markets after Brexit. Many large global banks are moving operations to Frankfurt, while many insurers have chosen Dublin.

France and the Netherlands follow closely behind as the next most popular countries in terms of the number of companies moving there.

A deal on the future relationship between the U.K. and the EU remains far from certain, and questions remain around issues such as derivatives clearing. The U.K. government has made planning for a no-deal Brexit an "operational priority," while the EU has outlined contingency plans for areas most susceptible to major disruption from such an eventuality.

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