Financial centre

Citigroup Picks Frankfurt As New EU Hub After Brexit

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Citigroup has picked Frankfurt as its headquarters for broker-dealer duties for EU countries after Brexit, a Citigroup executive announced Thursday in an email reviewed by AFP. The operations are currently housed in London at Citigroup Global Markets, but is expected to lose passporting rights to the EU after Brexit takes effect in 2019, said James … Read more

Bank Urges City To ‘plan For All Eventualities’

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The Bank of England has written to the UK’s biggest financial firms, urging them to plan for “all eventualities” from the UK leaving the European Union. Bank governor Mark Carney said the “vast majority” of City firms already had contingency plans in place. However, he said that some financial firms still needed to prepare in … Read more