Brexit uncertainty is “biting hard” on banks and investment managers with optimism in the financial services sector falling sharply in the quarter to September.

Optimism in the financial services sector stabilised in the second quarter of 2018 following sharp falls in the previous two quarters, according to the latest CBI/PwC Financial Services Survey out today.

Only one tenth of of firms are happy about company pension arrangements, a new survey has revealed.

Optimism in the financial services sector has fallen for the fourth quarter in a row, reaching similar levels to the gloom that enveloped the sector during the financial crisis, a report suggests.