Citigroup envisions to invest in London

 Citigroup contemplate invest in London,

The Bank is Recruiting people in spite of Brexit: 

Wall Street bank Citigroup Inc will arrange an development hub in London in one of the first investments by a top 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 boost for UK’s financial services sector before of Brexit.


European Commission officials refused the City of London’s proposal to strike a post-Brexit free-trade deal on financial services, a significant strike to Britain’s desires of managing absolute access to EU markets for one of the world’s top two financial centers.


Britain is already hub to the world’s greatest 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}, approximately 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 declined access to Europe’s single market.
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