Access to European investors is the chief concern for asset managers when the UK finally leaves the EU, a poll showed.
In the event of a ‘hard’ Brexit, 67% of asset managers said access to European investors was their main concern, way above access to talent or financial assets.
The results of the poll taken by Cordium, a regulatory compliance firm, at its annual conference were:
- Access to EU27 investors (66.7%)
- Access to talent (23.3%)
- Financial assets (9%)
Just over 53% of managers said they had started their Brexit planning; 46% said they had not started.
Almost 58% said they anticipated a moderately or very significant negative impact from a hard Brexit.
Stephen Burke, Cordium’s group corporate development director, said: “Collectively, UK firms have a massive Brexit task and it seems that increasingly clear that there will be no short cuts. All firms need a hard Brexit contingency plan and regrettably plans may need to be invoked well before the outcome of the negotiations are known.”
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