ABERDEEN Asset Management has said it will move jobs from the UK to Europe after Brexit if the European Union insists clearing houses for euro-denominated trading should remain within the bloc.

Chief executive Martin Gilbert declined to say how many jobs were at risk, but told a conference yesterday that it would probably be “a handful”, according to Reuters reports.

As many as 83,000 UK jobs are believed to be at risk if the European Union demands that euro clearing is carried out within the single market, according to EY research.

The EU is due to publish a draft law on clearing next month. Firms may have to relocate or submit to European regulation if they wish to carry on in the lucrative market.

Currently the majority of the work is carried out in London, which clears €850m per day.