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First big lender announces it will move headquarters out of London

brexit.lockelord.com
October 11, 2016

VTB bank has become the first large investment bank to publicly announce that it will move its headquarters out of London because of the expected disruption of Brexit. The Russian bank is now looking to relocate to another European financial centre, with a board decision set to be made later this year. Global management firm Oliver Wyman published a report this week predicting that up to 71,000 jobs could go in the city of London following the decision to leave the European Union.

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