The UK's ability to attract talent is already suffering, following the vote to leave the EU, according to the boss of the UK's fifth-largest bank.
https://www.bbc.co.uk/news/business-42257277
Standard Chartered is "preparing for the worst" from Brexit, chief executive Bill Winters told the BBC.
The UK-headquartered bank is in the process of turning its Frankfurt branch into a subsidiary requiring additional capital, licences and staff.
He said this was "inconvenient and expensive" and will damage London.
"London will take hits in the context of Brexit… I think big parts of the euro-denominated corporate banking business will be forced into Europe.
"It's possible that through the Brexit negotiations that there is some sort of extended passporting rule [ability of banks to sell services across Europe from a UK base] but none of us are expecting that quite frankly, or preparing for that.
"We have to prepare for the worst… let's hope for the best, but we're prepared for the worst."
Talent loss
Mr Winters said he would be happy to take the tens of millions of pounds he has spent on Brexit contingency planning and "flush it down the toilet" if it meant he could carry on as before and maintain the bank's current structure.
The mood music from the UK has already affected the bank's ability to attract the best and brightest talent according to Mr Winters.
"We have already had some setbacks for the talent pool in London through the restriction on student visas. That's already a problem.
"Some of the best talent that we can have in the UK marketplace is coming from students that have chosen to study here and then stayed for some extended period afterwards… We've noticed that's been impacted already.
"More through a sense from non-UK [people] that this might not be such a hospitable place any longer - it's more psychological than contractual."
Official numbers bear this out. After a decade of uninterrupted growth, applications from EU students for places at UK universities dropped by more than 7% last year, according to UCAS, even though their right to stay on and work is, as yet, unaffected.
A Department for Education spokesperson said it was taking action to provide certainty for students.
"We have confirmed that EU students starting their courses in the academic year 18/19 or before will continue to be eligible for student loans and home fee status and will have a right to remain in the UK to complete their course," they added.
With Brexit still being negotiated and companies ever looking to innovate, finding the right skilled talent is key. Especially in IT where talent is global. For more information on Tier 2 General and Visa sponsorship do get in touch at consult@mavisas.co.uk
Thanks for reading
Mason