mo4ch:>The big Brexit exodus? UK firms set to shift £800 billion in assets to EU countries | Mo4ch News

Financial services firms are planning to move £800 billion ($1.02 billion) in assets to EU countries as Brexit looms, with over a third of companies seeking to relocate their businesses outside the UK, according to an EY report.The study tracked announcements from 222 companies in the sector. The research published on Monday by EY, one of the “Big Four” global accounting firms, found that 36 percent of all firms had either publicly confirmed or stated their intentions to transfer their operations and staff to nearby EU nations, Citywire reports.Also on rt.comThe EU bubble is doomed to burst in 2019, financial analyst warnsThe consultancy firm’s “Brexit Tracker“ reveals that the proportion rises to 48 percent – or 68 out of 143 companies – for universal and investment banks, wealth and asset managers, and insurance businesses.Omar Ali, EY’s UK financial services leader, claims that £800 billion ($1.02 billion) is a “conservative” number and could grow as the risk of a no-deal Brexit he…