More than 60 financial firms have moved some operations to Luxembourg to insulate themselves from the effects of Brexit, a industry group said Wednesday.
As EU lawmakers voted in Brussels to confirm Britain's departure from the bloc, public-private agency Luxembourg for Finance released its figures.
According to the group, 60 firms "have publicly announced the relocation of activities to Luxembourg due to Brexit," and at least ten more will do so.
"Since the Brexit referendum in 2016, Luxembourg has seen a spike in interest from firms planning for their future EU and cross-border activities," it said.
"A further Brexit outcome has been that Luxembourg law is increasingly being chosen by international institutions active in financial markets."
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