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Britain's financial sector has the worst prospects since 2008 crisis: Investigation



(Reuters) – Optimism about the business prospects of UK financial services has fallen at the fastest possible level since the financial crisis of 2008 due to concerns about its exit from the EU, with insurance brokers as the only bright spot, a survey Monday showed.

The business volume among the 84 leading financial companies has also fallen at its fastest pace since September 2012. The survey from the British industry and the accounting firm PwC showed.

The growing fog of banks, insurance companies, fund managers and other financial corporations comes as the prime minister Theresa can fight to get his twice-rejected EU withdrawal agreement through a bitterly split parliament.

The investment management industry saw the strongest fall in growth, the CBI / PwC survey said, as investors hold on to their money in turbulent markets, while insurance brokers were the only bright spot.

"The alarm blocks ring in the state o ptimism in the financial services sector have now reached a fatal level," says Rain Newton-Smith, CFO of CBI.

Employment over financial services fell at the fastest rate in four years. of job cuts in the banking sector as lenders distort boundary networks and shift jobs abroad to trim costs.

                    


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