A new survey shows that Dublin remains the most popular choice for financial services firms to relocate post-Brexit.

28 firms have committed to relocating staff or operations to Dublin since the Brexit referendum in 2016, EY's latest Financial Services Brexit Tracker shows. 

Dublin is closely followed by Frankfurt with 21 companies moving there, with Luxembourg on 19 and Paris on 18. 

EY estimates the value of assets that could move from the UK at over €1.1 trillion, up from €936 billion in November. 

But it said this total is likely to increase as Brexit approaches, with total assets of the UK banking sector alone estimated to be in excess of €9 trillion. 

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

For the first time, the EY Brexit Tracker also includes how many Globally Systemically Important Banks have moved operations since the Brexit vote. 

Globally Systemically Important Banks are banks whose systemic risk profile is deemed to be of such importance that the bank's failure would trigger a wider financial crisis and threaten the global economy.

Dublin is the third most popular location for G-SIBs, with six moving to the city.

Frankfurt is the overall winner with 12, followed by Paris with 8. 

Given their size, many of these banks have chosen multiple locations to move operations and/or staff to, however many UK-based G-SIBs are not moving significant parts of their UK business away at this stage. 

Cormac Kelly, Financial Services Brexit Lead for EY in Ireland, said 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," Mr Kelly said. 

"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," he added.

Professor Neil Gibson, chief economist at EY Ireland, said the tracker results are a reminder that while disruption of any kind is challenging, it also bring with it opportunity. 

"Dublin’s place as the most attractive destination for financial services firms relocating reflects its global standing in the sector and shows that the capital is making the most of its potential," Professor Gibson said. 

"Given the challenges that Brexit may present elsewhere in the economy, the jobs and income resulting from these relocations are extremely positive developments which should be welcomed," he added.

New figures from IDA Ireland last week showed that over 5,000 jobs in 70 individual investments have been approved here since the Brexit referendum in June 2016. 

Companies that have announced Irish investments connected to Brexit include Barclays, Morgan Stanley, TD Securities, Wasdell, Delphi /Aptiv, Simmons & Simmons, S&P Global, Thomson Reuters, Equilend and Coinbase, the IDA said.