Northern Ireland

Citigroup gives Belfast reassurance

Citigroup hq Image copyright Reuters

The Head of Citigroup in the UK has given a reassurance about the future of the bank's operation in Belfast.

The US bank employs about 2,000 people in the city working across technology, operations, legal & compliance.

James Bardrick told the BBC: "There is no fundamental reason why Belfast's attractions to us should change as a result of Brexit.

"I don't see that standing in the way of either what we've got in Belfast or our plans to continue developing."

When the UK leaves the single market, some financial services jobs will have to relocate to the EU for regulatory reasons.

Earlier this year, HSBC said it was preparing to move 1,000 staff from London to Paris.

The Swiss bank UBS also said "about 1,000" of its 5,000 London jobs could be hit by Brexit.

The jobs being moved are likely to mainly involve "front office" workers selling products into the EU and some support staff.

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