Global banks hit by Brexit consequences are transferring about 800 billion euro of assets to Frankfurt, Bloomberg reports.

Most part of assets will be moved in first quarter of next year. In this way banks prepared to possible hard exit of the UK from European Union, despite of recent progress in Brexit deal.

Brexit made banks that operate its EU business from London to move into another country within the bloc due to concerns that UK’s bank can lose their banking EU license. Frankfurt became one of the most popular choices with Goldman Sachs Group Inc., UBS Group AG and Morgan Stanley moving into German capital.

US large investments banks only will move as much as 250 billion euro to Frankfurt.

In total, 30 financial institutions chose Frankfurt as their European hub, where 10000 jobs will be created and not only in banking industry.