Deutsche Bank to move assets from London to Frankfurt after Brexit
Updated : September 17, 2018 04:36 PM IST
Deutsche Bank said in a statement that it would make Frankfurt rather than London the primary booking hub for its investment banking clients, as per an announcement made last year.
The ECB thereby wants to prevent investment banks setting up empty shells on the continent while still supplying their services from London, the person added.
Deutsche Bank could over time move about three quarters of its estimated 600 billion euros ($699.5 billion) in capital back from London to Frankfurt.
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