German Frankfurt is getting more and more attention recently due to Brexit. John Cryan, the CEO of Deutsche Bank AG has announced to the employees that the company would be relocating to Frankfurt.
“There’s an awful lot of detail to be ironed out and agreed, depending on what the rules and regulations turn out to be,” John Cryan said. “We will try to minimize disruption for our clients and for our own people, but inevitably roles will need to be either moved or at least added in Frankfurt.”
The bank officials stated they cannot wait for agreements between Britain and the EU to be renegotiated. Brexit is expected to significantly affect not only the major German bank, but also its counterparts from the United States and continental Europe. Deutsche Bank is considering relocating parts of its trading and investments segments from London to Frankfurt. Several hundred people will be shifted.
By far, Frankfurt is the sole beneficiary of the recent Brexit decision.
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
GENERAL RISK WARNING
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.