Brexit: Deutsche Bank may move 4,000 jobs to EU

The Frankfurt-based bank has about 7,000 people in London and approximately 8,500 across the UK

Deutsche Bank AG envisions shifting almost half its UK positions to the European continent over coming years as the lender’s Brexit plans take shape, people briefed on the matter said.

Most of the 4,000 positions will move to Frankfurt and Berlin under the bank’s base case scenario, the people said, asking not to be identified discussing internal planning. Deutsche Bank will start relocating jobs next year at the earliest once it has dealt with regulatory approvals and other preparations, another person said. No plans have been finalised and numbers could still change depending on the UK’s talks with the European Union,