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Top earning bankers shifted from Britain to EU ahead of Brexit

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Britain lost nearly a hundred highly paid bankers ahead of its departure from the European Union, the bloc’s banking watchdog said on Wednesday, the latest confirmation of how Brexit has reshaped Europe’s financial sector and tax base.

The European Banking Authority (EBA) said in its annual survey of bankers paid a million euros ($1.17 million) or more a year that Britain saw a drop of 95 high earners in 2019.

Britain, however, still accounted for 71% or 3,519 of the 4,963 bankers in the top pay category across the EU in a sign of how London still remained by far the biggest financial centre in Europe.

The million euro threshold includes basic pay, bonuses, long-term awards and pension contributions.

Photo: EPA-EFE/ANDY RAIN