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Deutsche Bank Weighs Moving $350 Billion From U.K. to Frankfurt

From bloomberg.com

Deutsche Bank AG may shift about 300 billion euros ($350 billion) from the balance sheet of its U.K. entity to Frankfurt as client trading and assets migrate to the continent following Britain’s decision to leave the European Union, according to a person familiar with the matter. The project, dubbed Bowline, calls for Frankfurt trading to go live in September 2018 and for the balance sheet migration to be completed by March 2019, said the person, who asked for anonymity in discussing internal matters. Monika Schaller, a spokeswoman for Deutsche Bank, declined to comment. Chief Executive Officer John Cryan told ... (full story)

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