A panel of some of the City’s most influential people believe Theresa May will be unseated as prime minister before the UK exits the European Union next March, offering a dramatic glimpse into the thinking of the highest echelons of the financial services industry.

The majority of a committee of 11 senior leaders in finance — including the chief executives of major banks and Europe’s biggest asset managers — said they expected May’s premiership to collapse as Brexit divisions within the ruling Conservative party threaten to derail divorce talks.