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Cross-border battle rages for bankers

The trend of investment bankers switching from London and the US to high-growth regions such as Asia picked up pace last year as a talent shortage drove increasing mobilisation of experienced staff

London may have clung on to its mantle as the world's top financial centre, but scratch beneath the surface and it doesn't take long to find signs of a brain drain from the UK capital as the war for financial talent lures staff where the money is - which is increasingly overseas.

A striking survey from recruitment firm Sheffield Haworth reveals that no less than 37% of external hires for roles in financial services in the Middle East and north Africa were staff moving from London or the US last year, while 31% of Asia Pacific hires moved from either London or the US.

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