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Brexit: CFA job security fears rises to 60%

Brexit: CFA job security fears rises to 60%

The ongoing uncertainty clouding Brexit is beginning to take its toll on CFA holders.

Only 58% of CFA holders now expected a soft Brexit - down from 67% last year, according to the CFA UK survey.

The CFA surveyed more than 800 members, and over three-quarters of all respondents (77%) say Brexit had deteriorated the competitiveness of the UK as a financial centre.

The perceived lack of competitiveness of the UK post-Brexit has the number of respondents who fearing for their job security increasing.  

In 2017, 60% of UK respondents felt their jobs were safe. This has now dropped to 54%. 

The number of EU respondents who felt their jobs were safe also fell from 43% to 39%.

The number expecting a hard Brexit increased from 17% to 22.5%. However, the number of respondents with no view also increased from 16% to 19.5%.

EU respondents proved even less sure about the outcome (24%), but those international non-EU passports still to expect a soft Brexit (72%).

‘There’s good and bad news in this year’s survey,’ said Will Goodhart, chief executive of CFA UK.

‘The good news is that more investment professionals, especially European investment professionals, expect to continue working in the UK post-Brexit. Yet more of those who were not sure about their intentions last year appear to be deciding to leave.’

He added: ‘It is reassuring that the results around the impact of Brexit on the competitiveness of the UK as a financial centre have not got much worse and, if anything, have improved marginally. My expectation would be that a hard Brexit outcome would see that survey result worsen.’

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