"Much of the financial services sector conversation has been about jobs," he told China Daily, "but what's more important－and hasn't had as much coverage－is the conversation about capital and assets.

"So far only a few thousand jobs have moved, which, compared to what was predicted is pretty modest. In fact, probably the biggest impact of Brexit on the labor market so far has been the creation of new jobs in Europe so institutions can continue to serve their clients," May said.

Other locations in EU

And while significant assets－800 billion pounds, or around 8 percent of Britain's financial services sector－have indeed moved to other locations in the European Union, this is not necessarily down to Brexit fears. It is pure practicality.

"These moves aren't done because of concern about Brexit, it's because there are rules and regulations about serving EU clients from within EU financial centers. To carry on doing this, some institutions have moved assets. That's not to say 8 percent isn't significant, but it's planned. In fact, Britain's financial services sector is one of the most advanced sectors when it comes to no-deal planning," May added.