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

Good luck in Brussels, darling! Philip waves off wounded but defiant Theresa May the ...

Good luck in Brussels, darling! Philip waves off wounded but defiant Theresa May the morning after failed coup as she heads for more backstop negotiations with the EU
Theresa May was waved off by her husband Philip this morning while departing for Brussels to save Brexit after her make-or-break confidence ...

British stockbroker at centre of £940m money-laundering investigation allegedly involving ...

British stockbroker at centre of £940m money-laundering investigation allegedly involving Venezuela's president
A British stockbroking firm is embroiled in a $1.2billion (£940million) Venezuelan money-laundering scandal. Fake investment schemes and a ...

Macron scraps fuel tax rise in face of gilets jaunes protests

Macron scraps fuel tax rise in face of gilets jaunes protests
French government drops measure from budget after weeks of protests that left parts of Paris in flames.The French government has bowed ...

Who's behind the blog

Who's behind the blog

SOCIAL MEDIA