Leading City firms begin to lay groundwork for London jobs exodus

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March 30, 2017 at 09:48PM

Lloyd’s of London and Royal London set up subsidiaries outside of UK as JP Morgan and Citigroup explore relocation options

A growing number of leading City firms have revealed they are now laying the groundwork for an exodus of thousands of jobs from London after Britain’s vote to leave to EU.

Just a day after Theresa May formally triggered the process for Brexit it was confirmed that the insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations.

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