Citigroup intends to invest in London,
The Bank is Recruiting employees even after Brexit:
Wall Street bank Citigroup Inc will put in place an innovation hub in London in one of the first investments by a big U.S. bank since Brexit, the Financial Times announced 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 contain the EMEA unit of Citi ventures and employees from across the company’s businesses, in growth for UK’s financial services sphere before of Brexit.
European Commission officials denied the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a crucial strike to Britain’s hope of keeping full access to EU markets for one of the world’s leading two business centers.
Britain is presently home to the world’s most significant number of banks commercial insurance firms. Approximately 6 trillion euros ($7.35 trillion), or 37 percent, of Europe’s financial assets, are handled in (London|the UK capital}, nearly twofold the amount of its nearest rival, Paris.
About 10,000 finance jobs will be moved out of Britain or created overseas in the following few years if it is denied access to Europe’s single market.
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