Deutsche Bank first to formally examine referendum fallout
(20 May 2015 – Europe) Deutsche Bank is using a working group to review a possible move of some British divisions to Germany if the United Kingdom leaves the European Union (EU).
A spokesperson for Deutsche Bank told the BBC a working group had been established and that it was early days with no decisions yet made.
The newly re-elected British Prime Minister David Cameron promised a referendum on the UK’s EU membership by the end of 2017.
Deutsche Bank, which employs 9000 people in the UK is the first of the banks to publically state it is formally examining the potential fallout from the referendum.
There has been debate by businesses and industry bodies in Britain to bring the referendum forward to end the prolonged wait.
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