TheCityUK set to announce new boss after Cummings' exit for IA

Amid Brexit turmoil

TheCityUK, the largest lobbying group in the City of London, is set to name a new boss following the departure of Chris Cummings to head up the Investment Association, according to a report.

The group is set to hire Miles Celic, a senior official at insurer Prudential, as its new chief executive, according to Sky News. The statement about his hire is reportedly expected this week, though it is unclear if there are still other candidates in the frame. Cummings is leaving the group to join the IA at a time when the City is going through an uncertain time as a result of Britain's vote to leave the European Union. For example, a number of large investment banks have threatened to move their operations out of London to ensure better access to the European markets. Some a...