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Citi's private bank to set up Luxembourg unit to cope with Brexit

Citi's private bank to set up Luxembourg unit to cope with Brexit
From Reuters - October 12, 2017

LONDON, Oct 12 (Reuters) - Citigroup said its private bank is to set up a booking centre in Luxembourg to ensure it can continue to serve European Union clients after Britain leaves the bloc in 2019.

Citi currently operates its European private banking operations out of London, but UK finance firms may lose their ability to sell their services to EU clients unless the British government manages to strike a deal with the bloc.

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