Asset managers cut hiring rate in London by half on Brexit concerns

Fears surrounding the expected loss of passporting rights and changes to 'delegation rules' has meant the UK's asset management industry could be restricted from access to international clients, according to the FT. As a result, global fund houses have reduced hires in their London bases as a post-Brexit contingency plan, while strengthening staffing operations elsewhere in the EU. According to LinkedIn, investment groups have boosted hiring in Paris and Luxembourg since the referendum. A survey by consultancy firm EY also showed more than half of asset management firms had already...