The Canary Wharf financial district under cloudy skies in Canary Wharf in east London on March 21, 2017. AFP / BEN STANSALL
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The City of London should emerge largely unscathed from Brexit even though thousands of banking and insurance jobs could move to the continent, the financial district's policy chief said. The "City" or "Square Mile," home to over 250 foreign banks and the Lloyd's of London insurance market, faces upheaval as firms decide whether to shift jobs to continental Europe to keep serving customers there after Britain leaves the EU in 2019 .This contrasts with harsher predictions, such as a report from EY consultancy forecasting a loss of 232,000 jobs financial jobs in Britain as result of Brexit, though with many of those from other parts of the country.Boleat steps down in May after five years in the job that included confronting protests against corporate greed and being at the heart of industry efforts to respond to Brexit, which threatens to cut off London from mainland Europe.Boleat does not speak for all of London's financial sector, however. The capital's other main financial area, Canary Wharf, is home to about 112,000 jobs.
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