The European Central Bank is pushing banks to add hundreds of extra staff and billions of extra capital to their post-Brexit operations in continental Europe.
One of the big surprises of the UK leaving the EU was how few jobs moved from the City to the European mainland, with Financial Times research showing only a minimal reduction of London bank jobs in recent years against predictions that tens of thousands of jobs would have to relocate.
But bank executives, lawyers and supervisors all told the FT that the ECB is becoming increasingly forceful in its demands that lenders move more resources to the continent to run their European businesses.
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