Dublin Paris the Post-Brexit Landscape in the EU Luxembourg

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Luxembourg Frankfurt www.newfinancial.org 95 firms / 17% of all moves 63 firms / 12% of all moves Asset / wealth management Diversified financials Asset / wealth management Raymond James Aberdeen Standard Alipay American Century RBC AllianceBernstein LendInvest Arabesque Silicon Valley Bank The post-Brexit landscape in the EU Aviva Investors PPRO CBRE Capital Advisors Standard Chartered BlueBay SaxoPay Invesco Sumitomo Mitsui A selection of firms relocating staff, assets or operations, expanding offices or setting up new entities in different financial centres. Columbia Threadneedle Investments StoneX PineBridge Investments UBS Crux Robus Capital VTB Bank Firm names indicate that a firm has chosen a city as its main post-Brexit EU hub; * denotes firms adding staff in a city in addition Franklin Templeton Alternatives Wellington Management Westpac to their main hub. GLP Management 3i Woori Bank Janus Henderson Advent International Banks / investment banks JP Morgan Wealth Management Bain Capital Bank of America* Diversified financials Julius Baer BC Partners Bank of Taiwan Atlantic Equities Dublin Jupiter Asset Management Blackstone China International Capital Corp. CMC Markets 135 firms / 25% of all moves, including… Lombard Odier Carlyle Group Citigroup Global Markets DBRS M&G EQT Partners Close Brothers Fitch Commerzbank Instinet Asset / wealth management Banks / investment banks Alternatives Nikko Asset Management Intermediate Capital Group Daiwa Capital Markets Monese Aberdeen Standard Bank of America Butler Corum Rathbone Montagu Deutsche Bank Affiliated Managers Group Bank of Montreal CapVest Irish Partners Schroders Partners Group Evercore Alternatives Ashmore Barclays HarbourVest T Rowe Price First Commercial Bank AQR Capital Management Baillie Gifford BNY Mellon FundRock Wells Fargo Asset Management Insurance Goldman Sachs Hamilton Lane Canaccord Genuity JP Morgan* Innocap AIG Greenhill & Co Cohen & Steers Macquarie Group KKR Capital Markets Banks / investment banks Aioi Nissay Dowa Jefferies Insurance First State Investments MiraeAsset Daewoo Man Group Agricultural Bank of China Britannia JP Morgan Domestic & General First Trust TD Bank Marshall Wace CIBC CNA Hardy Mizuho Goldman Sachs Asset Mgmt Winton China Everbright Bank FM Global China Merchant Bank Hiscox Morgan Stanley Hermes Diversified financials Northern Trust Lloyds Insurance Nomura LGIM AMX Insurance Shanghai Pudong RSA Group Legg Mason ClearBank Aviva Swiss Re Capital Markets Sompo MacKay Shields Coinbase Beazley Swissquote Tokio Marine Group Amsterdam Manulife Inv Management Duff & Phelps Berkshire Hathaway USAA Merian Global Investors DTCC BUPA Insurance A Brexit at a glance (2) 48 firms / 9% of all moves Morgan Stanley Inv Mgmt EquiLend Equitable LIfe PGIM Euroclear Everest Re Financial centres share of post-Brexit relocations Asset / wealth management DRW Principal Global Investors FNZ Fidelis Sample = 423 firms / 546 moves BlackRock Gelber Group State Street Global Advisors Hudson North BMO Global Asset Management Global Reach Vanguard Asset Mgmt Liquidnet Prudential Other DeVere Group Hard Eight Quilter Cheviot Marex Financial Royal London Greystar Headlands Technologies Moneycorp Travelers Dublin Symbiotics Hitachi Capital Monzo XL Group Jane Street Pershing 19% Banks / investment banks Jump Trading Standard & Poor’s 25% Commonwealth Bank of Australia LSEG (Turquoise) Thomson Reuters Amsterdam CLSA Mako Derivatives ING MarketAxess Paris 9% Royal Bank of Scotland Maven Derivatives MUFG Securities Quantlab 102 firms / 19% of all moves Brexit at a glance (1) Norinchukin Radix Trading LLC Tower Research Capital Asset / wealth management Credit Agricole CIB Morningstar The number of firms moving to different financial centres 12% 19% Diversified financials Tradeweb Alvarium Credit Suisse* Redburn Bloomberg Trading Facility Worldpay BlackRock* Goldman Sachs RJ O'Brien Frankfurt Paris NEX Group / CME XR Trading Boussard & Gavaudan HSBC TP ICAP 17% Cboe Global Markets Clerville Investment Mgmt JP Morgan* XTX Markets EU hub Centtrip Alternatives Elava Capital Morgan Stanley* 135 CTC Bedford Row Capital H20 Asset Management National Australia Bank Alternatives Secondary move Luxembourg Currency Cloud Hellebore Capital Natixis Campbell Lutyens 20 Polar Capital Nomura* Chenavari Financial 102 Ruffer Société Générale Eleva Capital 95 Smart Lenders AM Standard Chartered* LGT Capital Partners Schroders* Perella Weinberg Millennium Global 27 14 Stanhope Wells Fargo 63 Brussels Stockholm Wilmington Trust Insurance Madrid 48 Diversified financials AXA 115 10 18 firms / 4% of all moves 15 firms / 3% of all moves 4 firms / 1% of all moves Banks / investment banks Aurel Chubb 86 6 Arab Bank Aquis Exchange Cooper Gay 75 Banks / investment banks Diversified financials Insurance Banks / investment banks 18 Credit Suisse Euroclear Hiscox* Goldman Sachs* Banco do Brasil Checkout.com Portman Insurance 47 14 Bank of America Ebury Worldline 41 Euronext Lloyd’s of London 2 BNP Paribas European Banking Authority 10 Insurance MoneyGram MS Amlin Diversified financials 4 11 Centreview GoCardless Admiral Insurance Transferwise QBE NEX Group / CME* Citigroup Global Markets* Kyte Broking Fitch* Commerzbank* LCH Moody’s