Bank of America has spent around $400m on preparing for Brexit, which has seen the bank move some operations from London to Dublin and Paris.

The UK will be stuck with searing inflation for years because of Brexit, according to strategists at Wall Street’s top banks.

JPMorgan Chase & Co. is pushing about 300 London-based investment banking staff to sign fresh contracts confirming they’ll leave the U.K. in the event of a no-deal Brexit, people familiar with the matter said.

Bank of America Merrill Lynch is poised to move hundreds of London staff to Paris next week as it implements its Brexit plans.

‘We believe sterling is in the process of evolving into a currency that resembles the underlying reality of the British economy: small and shrinking,’ say Bank of America currency analysts

Dozens of companies have cut jobs, beefed up their European operations or issued warnings on the impact of the UK's departure from the EU.