Consulting and Audit Firm EY has forecast 80,000 + finance sector jobs could be lost in the event of a "Hard" Brexit, in a report prepared for the London Stock Exchange.
This number assumes the City loses passporting rights and therefore all Euro-clearing activity currently carried out in London, and is a worst case scenario according to EY.
Sales and trading, back office, technology and wealth and asset management would all be at risk according to the report.
The report is a "worst case scenario" that sees the City fail to gain "equivalence" rights to still operate across the EU post-Brexit and lose all euro clearing activity. EY estimates the job losses would take 7 years.