Citigroup expects invest in London, 12352
The Bank is Recruiting human resources despite Brexit:
Wall Street bank Citigroup Inc will start up an development center in London in one of the primary 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 unit of Citi ventures and employees from across the company's businesses, in a rise for UK's financial services sphere in advance of Brexit.
European Commission representatives rejected the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a major strike to Britain’s expectations of sustaining complete access to EU markets for one of the world’s leading two financial centers.
Britain is presently habitat 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 managed in (London|the UK capital}, nearly double the amount of its nearest competitor, 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.
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