Find a link to Hannah Langworth's original article in Real Deals here
According to PER's January 2018 Brexit Relocation Study...
More than 80 per cent of non-UK EU citizens working in or around UK private equity want
to leave Britain following the Brexit referendum, according to a survey from recruitment consultants PER.
Of these, 93 per cent said that Brexit had affected their decision, with 76 per cent saying that Brexit has affected their sense of job security. More than half (56 per cent) of respondents are planning to leave within the next two years, and a further 28 per cent within two to five years.
France, Germany and Switzerland could be the main beneficiaries of a potential exodus, with 38 per cent, 30 per cent and 30 per cent of respondents respectively selecting these countries as possible destinations.
The survey received 134 responses from private equity, adjacent industries including venture capital, and advisers to the asset class. The majority of responses came from buyout firms. When combined with responses from banking and consulting, the industry’s main sources of new recruits, these made up nearly three-quarters of responses.
Real Deals reported last year on increased interest from people working in private equity in the UK in moving to continental Europe, particularly Germany.
PER advises UK private equity firms to talk now to non-UK EU employees about their future plans, reassure EU candidates when recruiting of the attractiveness of London and its buyout firms, and prepare for smaller banking and consultancy talent pools.
By Hannah Langworth, Real Deals