The Brexit vote has removed the ability of multinational banks to access the European single market through their London headquarters, forcing them to establish European bases. This article analyzes the drivers of these location decisions. A model created by examining publicized plans suggests that the main factors influencing choices are office space costs, corporate tax rate, business climate, payroll tax rate, quality of life, and housing costs. Results suggest that Frankfurt, Germany, is the most attractive city.
Heffler, Tristan, "Mapping The Financial Services Sector After Brexit" (2018). Volume 36 - The United Kingdom On The Brink Of Brexit (2018). 6.