Citigroup wantswishes invest in London,
City Bank is Recruiting workers even after Brexit:
Wall Street bank Citigroup Inc will arrange an creativity center in London in one of the initial investments by a top 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 house the EMEA devision of Citi ventures and employees from across the company’s businesses, in a rise for UK’s financial services sector in advance 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 setback to Britain’s desires of keeping complete access to EU markets for one of the world’s top two financial centers.
Britain is currently home to the world’s largest 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}, practically double the amount of its closest rival, Paris.
About 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if it is declined access to Europe’s single market.