London could lose 10,000 banking jobs and 20,000 roles in financial services after Brexit. REUTERS/Afolabi Sotunde
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begin Brexit exodus despite transition callWith negotiations between the two sides deadlocked for months over what a future trading arrangement might look like, a handful of banks have already applied to EU regulators for permits, signed leases on new offices and will soon start relocating employees out of London. Bank of America Corp. is the latest bank to firm up its Brexit arrangements. If May had campaigned for a transition from the start it would have been more helpful, but given that most banks contingency plans are now being executed, her late call isn't going to change a thing, one of the people said.
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