The largest global banks in London plan to move about 9,000 jobs to the continent in the next two years, public statements and information from sources shows, as the exodus of finance jobs starts to take shape.

Last week Standard Chartered and JPMorgan were the latest global banks to outline plans for their European operations after Brexit. They are among a growing number of lenders pushing ahead with plans to move operations from London.

Thirteen major banks including Goldman Sachs, UBS, and Citigroup have given an indication of how they would bulk up their operations in Europe to secure market access to the European Union’s single market when Britain leaves the bloc.

Talks with financial authorities in Europe have been under way for several months, but banks are increasingly firming up plans to move staff and operations.

Although the moves would represent about two per cent of London’s finance jobs, Britain’s tax revenues could be hit if it loses rich taxpayers working in financial services.

The exact number of jobs to leave will depend on the deal the British government strikes with the EU.

Most banks are working on the assumption that the most likely outcome of the separation talks would involve losing access to the single market with no special financial services deal and notransition period.

Frankfurt and Dublin are emerging as the biggest winners from the relocation plans. Six of the 13 banks favour opening a new office or moving the bulk their operations to Frankfurt. Three of the banks will look to expand in Dublin.