Berenberg is shifting a team of investment bankers from Europe to the City, in a rare example of a financial services organisation moving talent away from the continent towards the UK after Brexit.

The German lender is building a team of 25 dealmakers in the UK, which will include a number of bankers transferring from its offices in Frankfurt and other locations. It is part of a plan to centralise its dealmakers into sector-focused units, according to bankers with knowledge of the move.