Citigroup Hires Former U.K. Foreign Secretary Ahead of Brexit Talks
January 17 2017 - 7:12AM
Dow Jones News
By Max Colchester
Citigroup Inc. has hired former U.K. Foreign Secretary William
Hague, as the U.S. bank muscles up its advisory team ahead of
Brexit negotiations.
Mr. Hague, who was British foreign minister between 2010 and
2014 and the former leader of the British Conservative Party, has
joined the U.S. bank in an advisory role, Citi said.
The hiring of Mr. Hague comes as Citi draws up contingency plans
for Brexit. Like other lenders, the U.S. bank has been trying to
interpret messages coming out of Downing Street and prepare itself
for the likelihood that the U.K. will lose its current access to
the European single market. Citi employs some 9,000 people in the
U.K. However unlike some of its U.S. peers it already has
operations spread across other European countries, notably in
Ireland and Germany. This should make it easier for the bank to
scale up operations in the trading bloc, analysts say.
Citi was active in its support for the U.K. to stay in the
European Union. It donated funds to the "Remain" campaign and
executives warned of disruption that would be caused by a vote to
leave the trading bloc.
Sky News first reported the appointment.
Write to Max Colchester at max.colchester@wsj.com
(END) Dow Jones Newswires
January 17, 2017 06:57 ET (11:57 GMT)
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