Citigroup is going invest in London,
City Bank is Recruiting human resources in spite of Brexit:
Wall Street bank Citigroup Inc will put together an creativity center in London in one of the primary investments by a serious U.S. bank since Brexit, the Financial Times said 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 devision of Citi ventures and employees from across the company’s businesses, in a growth for UK’s financial services marketplace ahead of Brexit.
European Commission administrators denied the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a major setback to Britain’s desires of managing extensive access to EU markets for one of the world’s major two financial centers.
Britain is by now hub to the world’s highest number of banks commercial insurance firms. Approximately 6 trillion euros ($7.35 trillion), or 37 percent, of Europe’s financial assets are administered in (London|the UK capital}, almost twice the amount of its nearest competitor, Paris.
About 10,000 finance jobs will be moved out of Britain or created overseas in the up coming few years if it is declined access to Europe’s single market.