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UK wealth management sector shrinking

London At Night

The fragmented UK wealth management sector is shrinking as firms quit, bulk up or look to service a more profitable slice of the country's growing number of rich clients, to cope with costly new regulations.

Staff flee Britain's financial regulators

London Canary Wharf

Staff have been quitting Britain's financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a regulatory brain drain in Europe's biggest financial hub.

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