https://www.theguardian.com/politics/2017/jan/24/citigroup-new-operations-away-london-brexit-eu-financial-hub
Citigroup plans new operations away from London after Brexit
US bank in talks with Ireland, Italy, France, Spain, Germany and Netherlands in search for new European base once UK leaves EU
Citigroup has set out 25 criteria to weigh up which financial centre in the European Union will house the new operation it expects to set up as a result of Brexit.
The US bank, which employs 9,000 people in the UK, has been in discussions with the authorities in Ireland, Italy, France, Spain, Germany and the Netherlands as potential locations for the new operation it is preparing in anticipation of losing access to the remaining 27 members of the EU once the UK leaves the trading bloc.
James Cowles, who runs Citi’s operations in Europe, the Middle East and Africa, said a decision would be made in the first half of the year. He told a conference in Dublin he thought many other financial firms with London operations would be working to a similar timescale.
