NEWS: British retreat, Europe, Middle East and Africa headquarters are still in the UK
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Blackrock, the world's largest asset manager, will remain in the UK as its biggest operating base and regional headquarters in Europe after the UK's departure, according to a memo to employees seen by Reuters, relocating "very few" jobs to expanded offices in the Netherlands and France.
BlackRock's commitment means that his UK workforce is still about three times the total of the remaining 27 EU countries. BlackRock has about 3000 employees in the UK and has about $6 trillion and 300 billion in global management.
Budapest will become the company's largest European office after the UK's departure, with about 450 employees, mainly dedicated to technical and background functions.
It will be welcome and exciting news for the City of London and the government of British Prime Minister Theresa May.