Deutsche Bank is so serious about potentially abandoning Britain that it has set up a
“working group” to mull over whether the lender should move a bulk of its UK divisions to Germany.
The bank confirmed its plans in the Financial Times and said that the “working group” was established to determine the advantages of the German lender moving its operations abroad, should the UK decide to leave the European Union after the referendum. It added that it’s “early days and no decisions have been made.”
Deutsche Bank employs 9,000 people in Britain.
Britain’s ruling Conservative Party will have to deliver a referendum by 2017 over whether Britain will stay part of the EU or not, since it was a linchpin pledge during the campaign.
Though the Tories are pushing through the promise of a referendum, however, the party is largely against leaving the EU.
In January last year, UK Chancellor George Osborne said the Tories were determined to deliver on the promise of a referendum but they would prefer to stay within the EU and negotiate “a better deal.”