Industry leaders in Frankfurt expect that 10,000 jobs will be created in the German city because of Britain leaving the EU.
Frankfurt Main Finance, a lobby group, believes banks will transfer assets worth between €750bn and €800bn (£712bn).
Hubertus Väth, its managing director, predicted that most assets would be relocated in the first quarter of 2019, with more following later. “As long as uncertainty persists most financial institutions prefer minimum solutions,” he said.
