Britain is home to 80% of Europe's high-earning bankers

Canary Wharf and the city are seen at sunset in London, December 14, 2016. REUTERS/Eddie Keogh

Reuters / Eddie Keogh

LONDON — Over 80% of the EU's "high-earning" financiers are based in the UK, according to new figures released by regulator the European Banking Authority (EBA).

Across the EU, 5,124 financiers — bankers, fund managers, and compliance experts —earned over €1m (£860,000) in 2015, of which 4,133 were based in the UK. That number rose dramatically on the previous year: when the EU total was just 3,865.

The bulk of the UK's finance industry is based in the City of London, the biggest hub of financial activity in Europe.

Six individuals based in the UK received over €20 million (£17.2 million), including one asset manager whose €199,000 salary was supplemented by €33.7m in bonuses. A further 2,927 earned between €1m and €2m in salary and bonuses.

The figures come as the City of London grapples with questions over its future as a financial hub after Brexit. While a prominent lobby group this week heralded Brexit as a "once-in a generation opportunity," there are serious concerns that banks may relocate their operations to other financial centres within the EU as a result.

The EBA is currently based in London, but will itself vacate its Canary Wharf office once Britain exits the EU.

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See Also:

• London is set to lose its role as the financial 'gateway to Europe' — and Brexit is to blame

• SENIOR EU OFFICIAL: Brexit means the City of London could be stripped of a €930 billion daily business

• Brussels think tank: 'Hard Brexit' could kill 30,000 London jobs and £1.5 trillion of assets

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