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Citi to build London hub, hire 60 employees

Citigroup Inc. will build an innovation hub in London and hire 60 technologists to work there amid Brexit, the Financial Times reported Feb. 11.

EMEA CEO Jim Cowles told the publication that the center will support the company's markets and securities services business globally. It will also house Citi Ventures' EMEA division.

Citi had picked Frankfurt as its post-Brexit EU trading hub and will move around 250 of its 6,000 London employees there, FT added.