Banks flee the City post-Brexit taking more than £900bn in assets with them If you thought the Brexit saga was over, think again. New research reveals UK firms are looking to the continent for business and relocations are set to continue. Figures compiled by think tank New Financial make for sobering reading and reveal the extent of just how much Brexit will face the change of the City. More than 440 firms in banking and financial services have relocated part of their business, moved employees or set up new entities in the EU following Brexit. Banks have moved or plan to move more than £900bn in assets to the EU, equivalent to 10 per cent of the entire UK banking system. Insurance firms and asset managers have transferred more than £100bn.