Didn't really keep up with the news (except the no-deal option getting more likely) but saw an article earlier and did some digging. Nothing unexpected though, just some reality.
France To Get €150 Billion Richer By End Of 2020, Thanks to Brexit
"[...] Francois Villeroy de Galhau, Governor of the Bank of France, told a private event that he expects financial firms to move approximately €150 billion from London to Paris by 31 December, when the poxt-Brexit transition ends and the U.K. will leave the EU.
Villeroy de Galhau, as reported by The Local, said that some of this money would be by French firms who are simply “moving assets home” but the others would be by U.K.-based entities to ensure they can keep trading in France. [...]"
City of London's Brexit Departures Are Speeding Up
"[...] Take JPMorgan Chase & Co. The biggest U.S. bank is moving the equivalent of $230 billion of assets from the U.K. to its EU hub in Frankfurt, Bloomberg News has reported. That represents one-tenth of the Wall Street giant’s total assets and more than a third of the assets it holds in the U.K., its latest accounts show. About 200 employees are moving to continental Europe in what one executive described as a “first wave” of relocations.
The potential impact on JPMorgan’s revenue is even more striking. In a recent interview with Bloomberg Television, the bank’s top European executive, Viswas Raghavan, said 25% of the wholesale revenue generated by the firm in the U.K. could be headed elsewhere. “It’s a reasonable start,” he said.
This sense that a quarter of the City’s investment bank business might be in play is shared by other London financiers involved in Brexit preparations. Morgan Stanley is looking for a new headquarters in London that could be 25% smaller than its current space there.
Where larger firms go, smaller ones will follow, as will the ecosystem of lawyers and consultants around them. For a country that derived 12.3 billion pounds ($16 billion) in corporation tax from financial services in 2019 — 22% of all government receipts — the stakes are phenomenally high.[...]"
Brexit bank relocations to Germany expected to create 2,500 jobs
https://www.thelocal.de/20201102/germany-top-destination-for-brexit-bank-relocations