What's going on with visa conversions in London?

I'm a non-EEA citizen and one of the lucky ones, with a FT offer that the company is willing to convert, but I'm one of the only ones. Have a few very close friends with great pedigrees who did internships at a few BB's across London last summer who did not convert (mostly due to low conversion rates where they were) - but think big 3 - JP/MS/GS and highly qualified. Went to look for summers and FT's for the 2019/20 cycle and... Nothing (at least in London, a few got offers in their home countries, but their first choice in terms of location is London).

So I guess my question, out of curiosity more than anything else, is: what is going on with the London banks right now? Brexit woes or hiring freezes, or just a general lessened appetite for grads/ non-EEA grads? Would love to hear theories/ opinions.

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