![]() ![]() The Chancellor used his first Mansion House speech last week to announce a package that he said could unlock up to £75bn in investment to boost pension pots and drive more capital into fast-growing British businesses. His comments came days after Jeremy Hunt unveiled a host of deregulatory reforms to boost Britain’s financial services industry after Brexit. ![]() He added: “I still think it is important that the UK focuses on its competitiveness and not just rest on the laurels of those characteristics, which I think are evidently permanent but you don’t want to diminish them by not having the right settings.” Livingstone said that Citigroup had shifted “a few hundred roles” out of London since Britain left the EU, largely owing to regulatory requirements, “but no more than that”. However, a mass exodus has failed to materialise. “For me, it’s an absolute certainty that the UK will remain with those characteristics and therefore remain the place that we have our headquarters.”įinance chiefs warned ahead of the 2016 referendum that Brexit would mean as many as 232,000 jobs in the City would be lost. ![]() Brexit has not damaged the City of London, a senior Wall Street boss has said, despite fears that leaving the bloc would trigger an exodus of bankers and business from the Square Mile.ĭavid Livingstone, Citigroup’s chief executive for Europe, Middle East and Africa, told The Telegraph that the City has “not been diminished” by Brexit, adding that efforts by Brussels to create a rival financial centre to London have so far failed to yield meaningful results.īritain’s attractiveness for international banks lies in its strong rule of law, common language, geographical location, quality of education and quality of life and “none of that has been diminished by Brexit”, Mr Livingstone said. ![]()
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