Dublin is still the most popular choice for financial services firms to relocate to post-Brexit.

A Financial Services Brexit Tracker from EY said 28 firms have committed to relocating staff or operations to the Irish capital since the UK's referendum.

Dublin is closely followed by Frankfurt (21), Luxembourg (19) and Paris (18).

EY's analysis estimates the value of the assets that could move from the UK at over €1.1tn, up from €936bn as of November 30th 2018.

And it added that this total is likely to increase as Brexit approaches - with total assets of the UK banking sector alone estimated to be in excess of €9tn.

Meanwhile, the number of jobs that could relocate from the UK to Europe in the near future stands at around 7,000.

Source: EY

For the first time, the Brexit Tracker also included how many Globally Systemically Important Banks (G-SIBs) have moved operations.

G-SIBs are banks whose profile is deemed to be of such importance that its failure would trigger a wider financial crisis and threaten the global economy.

According to the tracker, Dublin is the third most popular location for G-SIBs - having attracted six to the city.

Frankfurt is the overall winner with 12, followed by Paris at eight.

Of the 24 G-SIBs monitored by the tracker, 75% (18) have announced operations and/or staff moves as a result of Brexit.

Cormac Kelly, financial services Brexit lead for EY in Ireland, said: "It comes as no surprise that the ongoing political uncertainty surrounding Brexit is continuing to drive organisations to relocate business, people and balance sheet out of London to European centres, specifically Dublin.

"We are seeing this first-hand with the arrival of these firms who are taking new office space and recruiting talent as well as seconding experts from their worldwide offices into high value, skilled roles in Dublin.

"Much remains to do for these firms, however their plans are well underway - plans which are not easy to reverse, certainly in the near term.

"Whatever the political outcome, it is clear that Ireland is becoming a leading hub for financial services in Europe."

Since the UK's Brexit referendum, 52% of universal and investment banks, wealth and asset managers and insurers monitored by EY's tracker have publicly confirmed or stated their intentions to move some of their operations and/or staff from the UK to Europe.

Of the 28 asset managers within this group, 14 have confirmed Dublin as their choice for relocation.

The EY Brexit Tracker monitors the public statements made by 222 of the largest financial services firms with significant operations in the UK across universal banks, investment banks, brokerages, wealth and asset managers, retail banks, private equity houses, insurers and insurance brokers and FinTechs.

Main image: A view of Alto Vetro building in the Grand Canal Dock area in Dublin | Image: NurPhoto/SIPA USA/PA Images