HALISTER: Deutsche Bank Is Said to Weigh Moving $350 Billion to Frankfurt

Deutsche Bank Is Said to Weigh Moving $350 Billion to Frankfurt

(Bloomberg) -- Deutsche Bank AG to begin balance sheet migration in September 2018 and complete it March 2019, according to person with knowledge of matter who asked for anonymity in discussing internal planning.
  • Bank wants to have built front-to-back technology and processes by June 2018 under project dubbed Bowline
  • Bank plans to start informing clients from September 2017 that their contracts will be switched to Frankfurt
  • A spokeswoman for Deutsche Bank declined to comment
  • NOTE July 20: Deutsche Bank preparing for hard Brexit, CEO John Cryan tells staff
To contact the reporters on this story: William Canny in London at wcanny3@bloomberg.net; Steven Arons in Frankfurt at sarons@bloomberg.net To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net Christian Baumgaertel, Jon Menon

Alert: HALISTER
Source: BFW (Bloomberg First Word)

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DBK GR (Deutsche Bank AG)

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John Michael Cryan (Deutsche Bank AG)

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