Canadian pension fund bats off Brexit worries with City expansion
One of Canada’s largest investment managers has promised to spend £4.6bn on expanding in London in the next five years, batting off any concerns of a Brexit exodus as it pledges to add brainpower to the capital.
The Public Sector Pension Investment Board said it had picked London as its European hub on Wednesday in a move its president André Bourbonnais said was “evidence of our confidence and commitment to the region”.
Its targets, which including growing the office from its current number of 28 to 40 by the end of the year, will come as a relief to many in the City as fears grow over jobs moving away from Britain as companies plan for a hard exit from the EU.
The financial sector in particular is prone to these concerns, given that negotiations could see them restricted on what type of services they can provide to clients on the continent.
Full Content: Telegraph
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