Lord Hill was interviewed alongside Ireland’s minister of state with responsibility for financial services, Eoghan Murphy, and Matheson’s managing partner Michael Jackson for a video to be published on Matheson.com this Friday.

It came before they addressed a meeting of 200 people in the financial services sector which was hosted by Matheson in London.

Mr Murphy agreed that London would remain strong as a financial centre, while Ireland would be “the natural location of choice” for UK companies or companies using the UK as a gateway to the EU.

He set out the levels of investment and planning being undertaken by the Irish government to prepare for opportunities arising from Brexit, and cited common language and legal systems, talent availability and tax and regulatory provisions as being the basis for

Mr Jackson reiterated Ireland’s commitment to the EU and said the Irish approach is based on “partnership rather than predatory engagement” and that this was “welcomed by the clients we talk to in London”.

Lord Hill said he believed that “people don’t want to leave London” - Brexit wouldn’t be like “a switch flicking”, and the City of London wouldn’t suddenly “migrate to Paris, Frankfurt or elsewhere”.

Concluding the interview, Lord Hill said that “we’ve got to get on with our life and Europe has to get on with its life” and that the quicker that happens, “the better it will be for Europe, Britain and for business”.