CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

Citi's private bank to set up Luxembourg unit to cope with Brexit

Citi's private bank to set up Luxembourg unit to cope with Brexit

By REUTERS         

LONDON (Reuters) – Citigroup <C.N> said its private bank is to set up a booking centre in Luxembourg to ensure it can continue to serve European Union clients after Britain leaves the bloc in 2019. Citi currently operates its European private banking operations out of London, but UK finance firms may lose their ability to sell their services to EU clients unless the British government manages to strike a deal with the bloc. “The decision is based on what is best for our clients and what will allow us to continue to service our clients without any disruption,” a spokeswoman for Citi said in a statement on Thursday. The U.S. bank has already said it will headquarter its EU trading operations in Frankfurt after Brexit, and has also applied for a licence for its markets business in France.

(Reporting by Rachel Armstrong; editing by Carolyn Cohn) 

http://www.euronews.com/2017/1... 

MORE NEWS

Santander Joins List of Banks in German Tax-Dodge Crackdown

Santander Joins List of Banks in German Tax-Dodge Crackdown
Banco Santander SA became the latest addition to a long list of banks targeted by German prosecutors over controversial tax-driven ...

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto?

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto?
Since early 2018, the government of China has tightened policies targeting millionaire investors in the country holding their wealth ...

Ed Sheeran paid more in tax last year than both Starbucks and Amazon

Ed Sheeran paid more in tax last year than both Starbucks and Amazon
He earned less than Starbucks and Amazon made in profits last year but Ed Sheeran paid more in tax than either company.Figures released this...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA