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14 November 2017

Bloomberg: Deutsche Bank needs Brexit clarity by early 2018 - Matherat


“It’s the very beginning of next year when we need to have a clear view on what’s going to happen” when the UK leaves the European Union, Chief Regulatory Officer Sylvie Matherat said at a conference in Frankfurt.

Deutsche Bank AG only has another month and a half before it needs to push ahead and make decisions on Brexit.

[...] While Deutsche Bank has said it plans to move some U.K. operations to Frankfurt and other EU cities, Chief Executive Officer John Cryan has stressed that the final decision on numbers has yet to be made and will depend on the outcome of the Brexit negotiations. The bank envisions shifting almost half its U.K. positions to the European continent over coming years, people briefed on the matter said in August.
 
Matherat has now made it clear that the bank can wait only so long for regulatory clarity. While she didn’t say at the conference how Deutsche Bank will decide in the absence of Brexit clarity, she has previously said that the bank is “hoping for the best and preparing for the worst.” [...]

Full piece on Bloomberg



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