Deutsche Bank is preparing to move large parts of the trading and investment-banking assets it books in London to its home town of Frankfurt, in response to Brexit. Germany's largest lender would move most of the business reported in London to a so-called booking centre in Frankfurt under the plan, people familiar with the matter said. The jobs of several hundred traders and as many as 20000 client accounts would probably be shifted as well, said another source. The strategy, which would be reviewed if the Brexit scenario changed, would probably be implemented over the next 18 months, the sources said. A year after Britain's decision to exit the EU, the world's biggest banks are eyeing alternative locations for some of their London operations. The turmoil triggered by Brexit has dovetailed with Deutsche Bank CEO John Cryan's desire to move the troubled lender closer to its base in Frankfurt, Germany's financial hub. "It's another milestone in what we call the Brexodus," said Gildas ...
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