World Economy

Citigroup to Relocate

Citigroup to RelocateCitigroup to Relocate

US bank Citigroup is set to become the latest Wall Street bank to pick German financial hub Frankfurt as its European Union base this week in preparation for when Britain leaves the 28-nation bloc, DW reported. Citigroup’s move to Frankfurt was part of a plan to be presented to its board of directors this week for approval, according to a person with knowledge of the decision and cited by British TV channel Sky News late on Monday. It had earlier said it would choose Frankfurt to become its hub for sales and trading in the EU and move “a couple of hundred” jobs outside of London after Brexit.

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