Staff turnover at some of the City’s biggest companies has almost ground to a halt, as uncertainty triggered by Brexit drastically reduces the number of new jobs being created in the Square Mile.

Exclusive figures given to Financial News by Morgan McKinley, the recruiter, show fewer than 2,400 new financial services jobs were advertised in May compared with almost 4,800 a year earlier. The number of workers seeking different roles has also slumped significantly since the start of the year, the data reveals.