Brexit has spurred UK asset managers to bolster their operations on the continent as concerns build that the industry risks being cut off from European investors.
According to a survey from EY of over 55 wealth and asset management firms, representing more than €25trn in AUM, 51% said they were working to establish European entities, 41% of which are targeting Luxembourg as their domicile of choice.
Of those firms planning to establish entities, 42% said the regulatory environment was the key factor in their decision, while just 9% cited talent and local infrastructure as priorities when choosing locations.
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