Italy Forms Task Force to Lure Financial Firms After Brexit

by Dramelin 5:30 AM 0 comments

Italy has formed a task force to lure financial firms from London after Brexit, attempting to attract banks, asset managers and private equity companies to Milan by offering tax incentives for high-skilled talent. The task force also will meet with companies, especially in the financial industry, in London and New York in coming months, he said. In addition to the campaign to bring post-Brexit private firms to Milan, Sala said the city?s top priority is to woo the European Medicines Agency from London. Milan is competing with rival cities including Dublin, Frankfurt and Paris for talent as financial firms prepare to set up new hubs inside the European Union before Britain leaves the bloc, expected in 2019. Global banking executives have warned U.K. Prime Minister Theresa May that they will soon start shifting operations and jobs from London.