London Daily

Focus on the big picture.
Friday, Jun 19, 2026

Brexit: 1,000 EU finance firms 'set to open UK offices'

Brexit: 1,000 EU finance firms 'set to open UK offices'

About 1,000 EU finance firms are eyeing up opening offices in the UK for the first time, according to financial consultancy Bovill.

A Freedom of Information (FOI) request by the firm found that 1,500 money managers, payment firms and insurers have applied for permission to continue operating in the UK after Brexit.

Around two-thirds had no prior physical operations in Britain, it said.

It suggests London "is set to remain a key global financial centre", it added.

"Many of these European firms will be opening offices for the first time, which is good news for UK professional advice firms across multiple industries including lawyers, accountants, consultants and recruiters." said Mike Johnson, managing consultant at Bovill.

He added that business from the firms should provide a welcome boost to the service sector, too.

There have been worries over how the UK's financial sector will be affected by Brexit. Last month, London was ousted by Amsterdam as the largest share-trading centre in Europe as Brexit-related changes to finance rules came into force.

Ireland tops list


Bovill's analysis of the FOI request with the Financial Conduct Authority found that more than 400 insurance firms as well as more than 100 banks plan to move to or boost their presence in the UK.

Geographically, the highest number of applications came from companies in Ireland, France and Germany.


Some 230 Irish firms were on the list, with 186 from France and 168 from Germany.

Firms from the three accounted for more than a third of the 1,476 applications for authorisation to do business in the UK.

"Ireland at the top of the list is to be expected, given how interlinked the UK and Irish economies are and their shared strength in asset management, a relationship which these numbers suggest will continue post-Brexit," said Mr Johnson.

Cyprus, a popular venue for trading platforms, was the next most common, with 151, followed by Netherlands with 106 and Luxembourg with 101.

Mr Johnson said the figures indicated the importance of reaching a decision on financial services equivalence between the EU and UK.

"They suggest that financial services firms across Europe recognise London's potency as a global financial centre and want to be able to conduct business here.

"Regulatory equivalence decisions would therefore benefit businesses on both sides of the channel."

Newsletter

Related Articles

0:00
0:00
Close
Dorset Council Tests AI Tools to Streamline Local Planning Applications
UK Researchers at Kew Gardens Use AI to Speed Up Identification of Threatened Plant Species
UK Gilt Yields Ease Toward 4.8% as Inflation and Labour Market Data Weigh on Bonds
Bank of England Data Shows Resilient SME Lending Despite Economic Slowdown
UK Finance Reports Weakening Services Activity as Business Confidence Softens
UK Introduces Mandatory Internal Complaints Process Under Data Use and Access Act
Bank of England Governor Andrew Bailey Flags Geopolitical Uncertainty as Key Risk to Inflation Outlook
Bank of England Holds Interest Rates at 3.75% as Policymakers Signal Cautious Stance on Inflation Risks
Cornwall Clergy Raise £40,000 for Church Repairs Through Everest-Themed Charity Challenge
UK Business and Social Landscape Reflects Strain From Geopolitical and Domestic Pressures
Tensions Grow in UK Over Sikh Kirpan and Religious Symbolism in Public Debate
Energy Price Cap Increase Set to Lift UK Household Bills by 13 Percent
University of Reading Ranked 196th in QS World University Rankings
UK Maritime Archaeologists Identify 17th-Century Dutch Shipwreck Off Devon Coast
Oxford Union Islam Debate Sparks Protest From Faith Leaders in UK
UK Social Cohesion Debate Intensifies After Religious Prejudice Survey Findings
UK SME Lending Rises Despite Geopolitical Uncertainty and Cautious Outlook
Foreign Demand for UK Gilts Remains Sensitive to Global Inflation Trends
Labour Party Faces Leadership Pressure After Weak Local Election Results in UK
Transport Costs Drive Inflation Pressure as Petrol Prices Push Up UK CPI
British Chambers of Commerce Cuts Growth Forecast as Middle East Conflict Weighs on Investment
UK Economy Grows 0.6 Percent in First Quarter but Outlook Remains Weak
Bank of England Holds Interest Rates at 3.75 Percent as Inflation Risks Persist
Energy Price Cap Rise Expected to Keep UK Inflation Above Target Through 2026
Health Authorities Warn of Rising Cases of Seasonal Respiratory Illnesses
BAE Systems and Rolls-Royce Advance Multi-Nation Fighter Aircraft Programme
National Archives Publish Declassified Documents on Cold War Energy Security Planning
British Retail Spending Rises Despite Continuing Cost-of-Living Pressures
Wales Launches Social Housing Pilot to Address Affordability Pressures
British Energy Companies Commit £5 Billion to Geothermal and Hydrogen Projects
Northern Ireland Debates Cross-Border Healthcare Partnership With the Republic of Ireland
UK Establishes National Artificial Intelligence Safety Centre With Leading Universities
UK Reports Decline in Small Boat Crossings After Expanding Intelligence Cooperation With France
Scottish Parliament Launches Inquiry Into Delays to Renewable Energy Projects
National Crime Agency Dismantles Alleged Multi-Million-Pound Money Laundering Network in London
Transport Strikes Disrupt Rail and Bus Services Across Northern England
United Kingdom and European Union Open New Security Dialogue on Defense and Border Cooperation
Bank of England Holds Interest Rates at 5% as Services Inflation Remains Elevated
UK Government Unveils Major National Health Service Reform Focused on Decentralization and Performance Funding
Government Advances New Airport Slot Rules to Ease Airline Operating Constraints
BBC Opens Flagship Science-Fiction Franchise to Competitive Production Bids
Chancellor Meets City Leaders Amid Concerns Over Gilt Market Liquidity
Rathbones Shares Fall Seventeen Percent After Regulatory Review Reveals Compliance Failings
United Kingdom Joins Group of Seven Initiative Using Artificial Intelligence and Quantum Computing for Cancer Research
Parliament Debates Doubling Tax Allowance for Pensioners After Major Public Petition
Measles Cases Exceed Seven Hundred in London and the West Midlands
British Military Leadership Faces Parliamentary Scrutiny After Defence Secretary's Sudden Resignation
House of Lords Begins Debate on Steel Industry Nationalisation Legislation
Parliament Advances Bill to Abolish NHS England and Create Single Patient Records
Parliament Fast-Tracks National Security Bill to Expand Powers Against Foreign Threats
×