Citigroup has warned that it would move operations from London and Belfast to overseas locations in the event of Brexit. The US bank, which employs 4,000 people in the UK, announced it would have to 'rebalance' operations across the EU in order to continue to serve clients across all European markets. Citi UK's boss has cited the movement of talent between EU states as beneficial to Citi and its clients, believing the bank would need to move operations abroad in order to maintain these advantages.
Citigroup has warned that it would move operations from London and Belfast to overseas locations in the event of Brexit. The US bank, which employs 9,000 people in the UK, announced it would have to 'rebalance' operations across the EU in order to continue to serve clients across all European markets. Citi UK's boss has cited the movement of talent between EU states as beneficial to Citi and its clients, believing the bank would need to move operations abroad in order to maintain these advantages.