Business News Citigroup to invest in London, hire staff despite Brexit: FT The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Picture taken October 19, 2017. REUTERS/Chris Helgren (Reuters) – Wall Street bank Citigroup Inc (C.N) will set up an innovation center in London in one of the first investments by a big U.S. bank since Brexit, the Financial Times reported on Sunday. Citi will initially hire 60 technologists for the center, James Cowles, chief executive Officer for Europe, the Middle East and Africa (EMEA), told the FT. The company could not be immediately reached for comment. In the short term the bank will move between 500 and 1,000 jobs after Britain’s formal exit from the EU, scheduled for March 29, 2019. About 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if it is denied access to Europe’s single market, a Reuters survey in September found. ($1 = 0.8167 euros) Source: https://www.reuters.com/article/us-citigroup-britain/citigroup-to-invest-in-london-hire-staff-despite-brexit-ft-idUSKBN1FV0ZA 13 recommended0 commentsShareShareTweetSharePin it