7500 was October, not it's more than 8000. That would make it about 3-4% of "high finance" positions* so far moved out of the UK into the EU. That's not an exodus yet, but it's not nothing either.

Then again, a lot of the transitions aren't finished yet either, and a lot of it is dependent on the final Deal or No Deal. It also takes time to do the groundwork if you want to move, like create the legal infrastructure and entities and the associated due diligence, rent office space, hire or relocate people, and so on.

So, it's too early yet to conclude anything in either direction, in my opinion.

[*] Hard to tell what is the true number of "high finance" employees in the UK. Given there are roughly 180K finance and insurance employees in the City of London, and most of the "high finance" is concentrated there, I'd guestimate 200-250K such "high finance" employees in the UK total, but I could be massively wrong. There are numbers putting the full time financial and insurance employees in the UK at 1.1M employees, but that includes bank tellers dealing with people wanting to buy a house and agents selling life insurance, etc.

My wife's department (at an unnamed major investment bank in London) just gave up on trying to hire for a position in Frankfurt. They'd been trying to fill it all year. They're now going to hire for it in their UK branch office (not London). By having the role in the UK will breach the EU regulations for the role in question - I don't know what their medium-long-term plans are though. It's a shit situation when you literally "can't find the staff".

could you elaborate? I would have guessed that especially in finance hiring in major cities is just a matter of compensation.

I think in every statement like "we can't find employees" there is an implicit "at the amount of money we want to pay".

Are German bankers paid that much more than British bankers then?

I have no idea - perhaps there is a shortage of bankers in Germany because of banks moving there?

I mean that can attract people from all over Europe to take these positions. It's likely a question of money.

And Frankfurt is not as attractive a place to live as London or Paris.

As a French guy still living in France, I don't find Paris to be attractive at all.

It is a dirty city, housing is expensive and generally in a poor state, and there a lot of security issues and social unrest: burglaries, violent protests (almost every week), periodic riots in some suburbs and terrorist attacks. To the point that more and more in the media, you hear about an upcoming civil war. Add that all the famous France's plagues: strikes, bureaucracy, very high income taxes for people earning more than 2000/m Euros and more recently communities living more and more separately.

There is no social unrest in Germany, Frankfurt is much safer and Germany more reliable.

Frankfurt is a lovely place to live... I was surprised how cheap it was (compared to nyc and such). While not a world class city like NYC/London, it has a lot to offer, and it is on par with cities like Boston/Seatle/SF/W.DC/Lyon/Zurich etc...

It is a solid 'upper middle' tier city, where everything is clean and neat.

And you can be in the center of of Amsterdam, Berlin, or Paris within 4 hours by train.

This. And from what I’ve heard this is often less about the banker asked to relocate themselves but their families. London is just far more attractive as a place for foreigners to relocate to than Frankfurt is.

It’s one of the downsides of Germany’s less centralized economy. While not the same status as London, Munich or Berlin would likely be more attractive destinations for their families.

Ha!? Paris is attractive only for a handful of ultra-rich or if you are a two days tourist (and even then). On the other hand, I found Frankfurt to be quite affordable and calm.

What daily attractions does Paris have? Sure there is the Louvre but I didn't visit that as a tourist (no way I'm standing on these lines); so I don't think I'll be seeing it everyday to work.

I dunno, I would trade london for just one more meal at konamon or muku ;)

Getting reservations at Muku was never easy but always worth it

Paris is a shithole.

If everyone suddenly has great need of them while demand for British bankers collapses, then yes.

I'm guessing that at least some financial institutions have been moving (part of) their London operations to mainland Europe, thereby creating a shortage of available workers there. That will probably self-correct over time, but it doesn't help the situation right now.

They were hiring for a low-rank employee that would take training and instructions from London.

Does their Wikipedia article [0] help to answer this question? It has numbers for 2020 in the table near the top. I would assume these number refer to the situation worldwide?

[0] https://en.wikipedia.org/wiki/Morgan_Stanley