Deutsche Bank say worker moves will be in the hundreds, not thousands
Brexit won’t see as many jobs moving out of London as first thought, according to Deutsche Bank. Its head of Captial Markets today said in Germany that hundreds rather than thousands would move. Last week CEO John Cryan said that bankers, tech experts and traders who work in London want to stay there and that only the booking centre would move for sure, again affecting less jobs than expected.
The new booking centre in Frankfurt will start handling customer transactions that currently go through London soon.
Some good news potentially for UK workers and that may be indicative of other banks who grandstanded with threats that many jobs would move from London over Brexit. There’s still a big risk of that if the UK doesn’t get a good deal, particularly on financial services.
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