The tech hub of London has been chosen by Citigroup as the next location in its innovation lab network, generating new jobs in the City.
The London innovation lab has its headquarters located in one of the shared workspaces of WeWork. The lab is set to hire 75 technologists who come from different backgrounds.
The new lab will be the latest in a series of technology hubs that are established by the UK banking group since its initial launch in Dublin way back in 2009. Concentrating on the development of advanced technologies including high-tech computing and data visualisation, its lab locations currently include Singapore, Mexico and Israel.
The global head of operations and technology for markets and securities services of Citi, Stuart Riley, stated: “As we look to further increase our investment and develop more cutting-edge technologies for our clients, we are thrilled to launch a new Lab in London and tap the UK’s deep pool of diverse talent to hire advanced technologists with a strong business background.”
The lab in London is set to host the European wing of the venture capital team of the group, Citi Ventures.