The City has received a boost this week after it was revealed that Dutch bank ING plans to create new jobs in London.
It comes despite the Brexit vote earlier this year, which many thought would cause an exodus of jobs from London’s financial centre.
Up to 60 people from the company’s offices in Brussels will come to London, and The Telegraph reports that more could follow “in due course”.
“Following the Brexit vote, the intention to move some functions to London might seem countercyclical. However, even after Brexit London has and will continue to have a deep labour talent pool to support our business,” Percy Rueber, head of ING Financial Markets, told staff.
But he warned against the proposed “hard Brexit”.
“If the effects of a possible ‘hard’ Brexit filter through to the talent pools in Europe, London may no longer remain an appropriate location for the FM [financial markets] trading function, and FM would consider its response to any such change at that time.”