Italy Forms Task Force to Lure Financial Firms After Brexit

Italy has formed a task force to lure financial firms from London after Brexit, attempting to attract banks, asset managers and private equity companies to Milan by offering tax incentives for high-skilled talent.

Finance Minister Pier Carlo Padoan and Milan Mayor Giuseppe Sala are meeting financial executives in Italy’s business capital Thursday to make another pitch for those bound to leave London. Italy’s government will coordinate a group of representatives from the country’s central bank, securities regulator Consob and the city of Milan to deal with the companies and institutions seeking alternative hubs within the European Union.