Is this the Brexit banking exodus Theresa May told us couldn’t happen? | Nesrine Malik

With Morgan Stanley quitting the City, the question is no longer if Brexit will damage the UK financial services industry – but how bad the damage will be• Nesrine Malik is a freelance journalist and former private equity investorThe latest financial institution making plans to relocate jobs away from the UK is Morgan Stanley, which has announced that Frankfurt will become its post-Brexit EU hub, a move that could shift an initial 200 jobs to Germany. Related: Morgan Stanley picks Fra