Citigroup will likely choose Frankfurt for its new European headquarters

CitigroupUS bank Citigroup will likely choose Frankfurt for its new European headquarters. The move is part of plans by the investment bank after Brexit. The decision will be taken in the first half of 2017, explained by the bank. From there confirmed that Germany was one of the favorites.

Citigroup already decided to move its European headquarters from London after Britain leave the EU. That means hundreds of jobs will be moved to the mainland. About the Bank in London employs over 9,000 people.

In late January at Citigroup commented that they are considering moving to London in alternative financial center in the EU. Possible destinations are Ireland, Italy, Spain, France, Germany or the Netherlands.

According to estimates of analysts “Hard” Brexit would cost 75,000 jobs.