Dublin remains the most popular choice for financial services firms to relocate post-Brexit, with 27 firms having committed to relocating staff or operations to the Irish capital since the Referendum, according to EY’s Brexit Tracker.
The latest figures for Dublin are up from 21 last quarter, meaning that between September and the end of November 2018, Dublin attracted six additional financial services companies to relocate to the city.
The report shows that Paris has gained popularity, with 15 companies confirming they are moving or adding some staff and/or operations to the French capital, up from 10 last quarter. Two more companies confirmed plans to relocate to Frankfurt and Luxembourg, with the numbers rising from 15 to 17 and 14 to 16 in the last quarter respectively.
Commenting on the findings, Partner and Brexit Lead for EY Ireland, Simon MacAllister said, "The latest figures are encouraging for Ireland as there were concerns that rising costs would impact its relative attractiveness. It appears that availability of talent and a proven track record remain the primary concerns for financial firms when exploring relocation."
He added, "With only 30% of London-based firms so far committing to any relocation of activity, there could be more opportunities for Ireland to pursue in the months ahead."