As Brexit pushes UK bankers out, many workers are setting their sights on the northern Italian city.
overall, through the global financial crisis is attracting executives the area, in addition to its proximity to other international business hubs, such as Frankfurt.
According to the European Banking Authority , the exodus of London bankers helped increase the number of high-paying financial workers across Europe, as a record 1,957 workers made over $1.08 million last year. Since Brexit, the EBA no longer includes the UK in its data,reports. The higher figure was also bolstered by investment banking profits and salary increases across the board, causing an overall rise in wages for other cities.
“After 20 years of redevelopment, [Milan] can stand a chance compared to other European capitals,” Manfredi Catella, founder and Chief Executive Officer of Coima SGR, told . The company is the developer behind Milan’s Porta Nuova transformation project, a public-green space initiative built over abandoned railway yards.
Other countries are also reaping the benefits of businesses hopping to Europe: 70 percent of the increase in high earners was found in banking sectors housed in France, Italy and Spain, according to
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Italian police arrest man whose ID helped fugitive mobsterItalian police in Sicily say they have arrested the man whose identity was allegedly used by a convicted Mafia boss who became Italy's No. 1 fugitive during 30 years on the run.
Read more »
Luxury hotel brand Icona outbid for historic Jersey Shore bank building in $6.6M dealThe sale of Ocean City's historic Crown Bank building was approved in bankruptcy court last week, nixing a previous offer to open an Icona hotel on the site.
Read more »
Versace Crystal Noir Makes Me Smell Like an Italian Movie StarTikTok calls this a 'main character' scent, and that is definitely the vibe.
Read more »
Italian police arrest man whose ID helped fugitive mobsterROME (AP) — Italian police in Sicily on Monday arrested the man whose identity was used by a convicted Mafia boss who became Italy’s No. 1 fugitive during 30 years on the run, authorities said. Carabinieri police said that Andrea Bonafede had been arrested on a warrant issued by judicial authorities in Palermo.
Read more »