Deutsche bank has no plans to be the amongst the initial wave of financial firms to move operations from London to Europe because of the potential impact of Brexit, according to the bank’s regulatory chief Sylvie Matherat. The German lender is not planning any major changes in its business model or investment strategy as a result of Britain’s decision to leave the European Union, she told Reuters on Tuesday. Several banks, including HSBC and UBS, have said they will have to move up to 1,000 job roles from London.
Deutsche bank has no plans to be the amongst the initial wave of financial firms to move operations from London to Europe because of the potential impact of Brexit, according to the bank’s regulatory chief Sylvie Matherat. The bank will see how the situation plays out for other financial institutions, and although chief executive John Cryan has said that London will remain “an important financial capital”, Germany would be their destination if moving became necessary. Several banks, including HSBC and UBS, have said they will have to move up to 1,000 job roles from London.