Deutsche Bank to 'relocate 100 London bankers' to EU and Asia

Deutsche Bank is reportedly moving 100 bankers from the capital to offices in the EU and Asia, as part of its post-Brexit restructuring plan.

One quarter of the corporate bank’s 400 UK staff will be made redundant – with their roles transferred to Dublin, Berlin, Frankfurt and a number of cities across Asia, people familiar with the decision told the Financial Times.

They said that some London-based staff that are able to work in the EU could reapply for their jobs, but must take a 25 per cent pay cut.

The bank has around 7,500 employees in the UK, with most of those roles based in London. But there are also 1,000 support staff in Birmingham.

“We remain strongly committed to the UK, which will continue to be an important centre for our corporate bank as well as our other divisions,” the bank said in a statement. “It will continue to serve our many UK corporate bank customers and to provide services to our clients globally.”

    Share Story:

Recent Stories


Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.

Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.