Brexit Delivers Blow to British Finance as Investments Slide
- FDI in U.K. financial firms dropped by 26%, EY report says
- London remains most attractive EU city for foreign investment
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Britain’s financial-services industry is suffering a drop in foreign investment while some of its European counterparts enjoy big gains, according to a new study that shows the starkest indication yet of Brexit’s impact on the sector.
Investment from abroad in Britain’s financial-services firms fell 26 percent last year, EY said in a report released Monday. During the same period, Germany experienced a 64 percent increase, while the figure for France more than doubled. London still attracted more inward investment in financial services than any other EU city, but the gap with Paris, Frankfurt and Dublin is narrowing, EY said.