Banking giant will keep workforce based in UK

US banking giant Citi plans to keep the vast majority of its workforce in the UK, regardless of how Brexit talks pan out.

The group will pepper its EU operations with an extra 150 staff, but is set to bolster offices through a hiring spree rather than a shift of British employees, its local government liaison has assured.

It is understood job moves will stay in single digits.

“We’re moving some roles and will create several,” Alan Houmann, head of government affairs for Europe, the Middle East and Africa (EMEA), told the Press Association.

When asked whether the outcome of Brexit negotiations could spark a larger raft of relocations, he suggested larger trends were at play and that the central causes of any further moves were “not directly on Brexit”.

“Our goal is to be ready to serve our European clients and our plans are very much under way to do that,” Mr Houmann said.

The broader banking sector has been looking at moving staff closer to clients, with some taking advantage of outsourcing opportunities for back office operations.

Citi says talks with EU government representatives have been “productive”, Mr Houmann assured, adding that the bank was more engaged in some countries based on the size of its operations or regional plans.

“We’re relatively well-placed when it comes to Brexit,” he said.

Citi currently employs around 9,000 staff in the UK.