Britain's representative on the EU executive in Brussels, Financial Services Commissioner Jonathan Hill, said on Saturday he was resigning following the referendum vote for Brexit which he had campaigned against.

"I don't believe it is right that I should carry on as the British commissioner as though nothing had happened," Hill said in a statement. "I have therefore told (European Commission President Jean-Claude Juncker) that I shall stand down.

"At the same time, there needs to be an orderly handover, so I have said that I will work with him to make sure that happens in the weeks ahead."