Société Générale warned some of its London-based workers that their jobs would no longer exist after Brexit, offering them the choice of moving to Paris or the risk of being made unemployed

A French investment bank has become the first big City employer to tell its staff that they must move to the Continent or face losing their jobs as financial institutions activate plans for a no-deal Brexit.

The move by Société Générale will raise fears that it may be too late to stem the loss of jobs from banking amid concerns at the prospect of the UK leaving the EU without an agreement for the financial services sector.

The French bank last month warned some of its London-based workers that their jobs would no longer exist post-Brexit, offering them the choice of moving to Paris or the risk of being made unemployed.

It has operated in the UK for more than a century, opening its first