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Deutsche Bank is headquartered in Frankfurt, but has large
operations in the UK with 8,600 staff based there.
"The 4,000 number that comes up again and again in media reports
is much too high," John Cryan was quoted as saying in the
paper's Saturday edition, adding that initially several hundreds
of jobs will be created in Frankfurt, but also in other cities
such as Milan and Paris.
"Mainly bankers, technology experts and traders work in London
and they want to stay there," Cryan was quoted as saying. "The
booking center will move for sure, but that affects less jobs
than many think."
Deutsche Bank is planning a new booking center in Frankfurt to
handle the billions of euros of non-European business currently
routed through London, which may not be allowed after Brexit.
While the bank has never been specific about how many jobs may
move from London following Brexit, a senior official earlier
this year indicated that up to 4,000 may be affected.
In April, Chief Regulatory Officer Sylvie Matherat had said:
"For front office people, if you want to deal with EU clients
you need to be based in the EU, in continental Europe. Does that
mean that I have to move all the front office people to Germany
or not? ... and we are speaking of 2,000 people."
She had added that local supervisors were asking for risk
management to be done locally, a demand that would require more
jobs to be moved. "It means another 2,000 people," she had said
at the time.
(Reporting Arno Schuetze; Editing by Elaine Hardcastle)
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