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Leaving London, Deutsche Bank heads to Frankfurt

Germany's largest lender would move most of its business in response to Brexit


Deutsche Bank AG is preparing to move large parts of the trading and investment-banking assets it currently books in London to its hometown of Frankfurt in response to Britain’s exit from the European Union, people familiar with the matter said. Germany’s largest lender would move most of the business reported in London to a so-called booking center in Frankfurt under the plan, said the people, who requested anonymity because discussions aren’t public. The jobs of several hundred traders and as many as 20,000 client accounts will likely be shifted as well, said another ...

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First Published: Fri, July 07 2017. 02:27 IST