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Brexit exodus helps drive record number in EU banks paid €1m-plus

Data shows UK banks losing well-paid staff, as Italy, France and Spain make up 70% of rise in EU top earners

A record 1,957 bankers across Europe earned more than €1m (£878,000) last year, according to data that shows the scale at which some of the best-paid jobs in Britain have moved from London to the EU since Brexit.

The European Banking Authority disclosed on Thursday that the number of bankers earning €1m or more a year had increased by more than 40%, from 1,383 in 2020 to 1,957 in 2021. Excluding UK figures, it is the highest number of €1m-plus European bankers since the EBA began collecting the data in 2010.

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