According to KPMG Luxembourg’s tally, as of 17 October, 24 banks, insurers and investment companies will set up operations in the grand duchy to maintain access to the EU single market after the UK leaves the bloc.

The firm published the figure on its Twitter account as an update to a paper released in June (PDF) that said 21 financial firms would relocate to Luxembourg.

Source: @KPMGLuxembourg

3i, AIG, Blackstone, Carlyle, China Everbright Bank, Goldman Sachs, Hiscox, JP Morgan, M&G Investments, MJ Hudson, Morgan Stanley, PingPong, Rakuten Commercial Banking and Shanghai Pudong Development Bank are among the organisations that have announced new operations in the grand duchy.

Other EU countries

The number of outfits planning to shift hubs from the UK to Germany rose from 8 to 10 between June and October. For the Netherlands, the figure increased from 1 to 4, for Belgium from 2 to 3, and for France from 1 to 2, by KPMG’s reckoning.

Two fewer companies now intend to plant flags in Ireland; the number shrank from 13 to 11.