The leader of one of the financial regions of London, Catherine McGuinness, speaking before the parliamentary committee on Britain's withdrawal from the EU, said that because of Brexit, from 3,500 to 12,000 jobs in the financial services can be transferred in the short-run from Britain to the European Union. She noted that in the longer term, even more jobs could disappear in the financial sphere. On the eve of Britain's withdrawal from the EU in March 2018, banks, insurers and asset managers are actively opening representative offices in the European Union to ensure the continuity of European customer service.
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