06:18 GMT +320 September 2019
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    Deutsche Bank Considers Leaving UK in Case of 'Brexit' From EU

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    The bank’s statement comes after HSBC, the largest bank in Europe, announced in late April that it was looking into the possibility of moving its headquarters out of the United Kingdom to avoid taxes and what it claims are onerous financial regulations.

    MOSCOW (Sputnik) – German-based Deutsche Bank, which employs some 9,000 people in the United Kingdom, has formed a working group to review its UK presence should Britain leave the 28-nation bloc, the bank spokesperson said Tuesday.

    Deutsche Bank’s spokesperson confirmed to BBC that a working group had been established but said it was "early days and no decisions have been made."

    The Deutsche Bank became the first firm to publicly state it was considering fallout in the event of a so-called Brexit scenario. The bank’s working group will review which, if any, of the bank’s activities should be removed to Germany, the Financial Times reported.

    Britain’s recently reelected Prime Minister David Cameron vowed to hold an “in/out” referendum on a possible EU exit before the end of 2017.

    Governor of the Bank of England Mark Carney warned that Cameron’s announcements of a popular vote for an EU exit created uncertainty for UK companies and would negatively affect the economy.

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