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Citigroup, Deutsche Bank beef up Frankfurt presence

Frankfurt is our first choice for headquartering our EU broker-dealer: Citigroup's head of Europe

A Citigroup office is seen at Canary Wharf in London. Photo: Reuters
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A Citigroup office is seen at Canary Wharf in London. Photo: Reuters

Rachel Armstrong & Tom Sims | Reuters London/Frankfurt
Two global banks, Citigroup and Deutsche Bank, are beefing up their presence in Frankfurt to deal with the impact of Britain leaving the European Union (EU). 

US bank Citigroup said on Thursday that it may need to create 150 new jobs in the EU, as it confirmed it would headquarter its EU trading operations in Frankfurt. 

Deutsche Bank Chief Executive Officer John Cryan said in a video published on Thursday that the German lender expected to add new jobs in Frankfurt, where it will replicate a structure that is interchangeable with its London operations and evolve as Brexit negotiations unfold. Details of