Deutsche Bank to move assets booked in London to Frankfurt - Bloomberg

According to a recent report by Bloomberg, Deutsche Bank is preparing to move large parts of the trading and investment banking assets it currently books in London to its hometown of Frankfurt in response to Britain’s exit from the European Union.

Key quotes (via Bloomberg):

• The strategy, which is still being finalized and would be reviewed if the Brexit scenario changes, will probably be implemented over the next 18 months
• If Britain were to lose passporting rights granted to EU members, Deutsche Bank would probably have to turn its London branch, where it books most of its U.K. investment banking business, into a subsidiary that would require capital, according to one person