Questions have been raised over Birmingham’s future as a major legal centre in the wake of a shock decision by accountancy giant Ernst & Young (E&Y) to move its Midlands corporate finance team to London.

The transfer of high-profile E&Y regional head of corporate finance Oliver Baker to London, along with his team of four, and national head of the automotive and engineering group, Geoff Wood-Hill, has been met with dismay by Midlands lawyers.