Deutsche Bank expects to move fewer staff than some senior officials had expected from London to the continent following Britain’s departure from the European Union.
“Not thousands will move from London, but rather hundreds”, Stefan Hoops, the head of Deutsche Bank’s capital market division in Germany, told journalists on Wednesday.
Reuters reports that while the bank has never been specific about how many jobs may leave London following Brexit, one of its top executives said in 2017 that up to 4,000 might be affected.
Deutsche Bank is headquartered in Frankfurt, but has large operations in Britain, where 8,600 of its staff are based.
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Deutsche Bank to move fewer London jobs than expected due to Brexit
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