Citigroup aims make investments in London,
The Bank is Recruiting people even after Brexit:?
Wall Street bank Citigroup Inc will put in place an innovation hub in London in one of the primary investments by a chief U.S. bank since Brexit, the Financial Times reported on Sunday.
The bank will initially hire 60 technologists for the center, James Cowles, chief executive Officer for Europe, the Middle East and Africa.
The center in London will also house the EMEA unit of Citi ventures and employees from across the company"s businesses, in a boost for UK"s financial services sphere in advance of Brexit.
European Commission administrators turned down the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a crucial setback to Britain’s desires of managing full access to EU markets for one of the world’s leading two financial centers.
Britain is presently host to the world’s greatest number of banks commercial insurance firms. About 6 trillion euros ($7.35 trillion), or 37 percent, of Europe’s financial assets are handled in (London|the UK capital}, virtually twofold the amount of its nearest competitor, Paris.
About 10,000 finance jobs will be shifted out of Britain or created overseas in the up coming few years if it is denied access to Europe’s single market.