Registered: Sat Aug 05 2017
Citigroup intends invest in London, 52345
The Bank is hiring employees despite Brexit:?
Wall Street bank Citigroup Inc will put in place an creativity facility in London in one of the primary investments by a chief U.S. bank since Brexit, the Financial Times informed us 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 a growth for UK's financial services sphere before of Brexit.
European Commission officials turned down the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a major strike to Britain’s desires of sustaining complete access to EU markets for one of the world’s top two financial centers.
Britain is presently hub to the world’s highest number of banks commercial insurance firms. About 6 trillion euros ($7.35 trillion), or 37 percent, of Europe’s financial assets are managed in (London|the UK capital}, practically double the amount of its closest 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.