Deutsche Bank is mulling a big pull back from Britain due to Brexit

REUTERS/Kai Pfaffenbach

• Deutsche Bank is considering moving 75% of its €600 billion in capital from London to Frankfurt.
• The German lender also plans to ring-fence its UK operation and simplify it, according to sources.
• Deutsche Bank is considering the moves after pressure from European regulators.

FRANKFURT (Reuters) – Deutsche Bank is considering shifting large volumes of assets from London to Frankfurt after the UK’s planned exit from the European Union next year to meet demands from European regulators, a person close to the matter said on Sunday.

Deutsche will also transform its UK arm into a ringfenced subsidiary after Brexit and reduce the size and complexity of its British operations, the source said.

See the rest of the story at Business Insider

See Also:

• ‘Illusion’ to think states can completely prevent financial crises: Weidmann
• Turkish union says airport protests to continue, some workers released
• Austria, Germany agree on need to avoid hard Brexit: Kurz

SEE ALSO: Deutsche Bank is hiring 25% more new analysts this year — and they provide a window into the bank’s strategy

DON’T MISS: A top Deutsche Bank shareholder is reportedly going to unload its entire stake