Deutsche Bank's CEO says plans for 'reasonable worst-case' Brexit

Reuters

FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> is planning for a "reasonable worst-case" scenario that predicts that Britain's deal to leave the European Union will not be favorable for the financial services industry, Chief Executive John Cryan said.

 

Cryan said in a video published by Deutsche Bank on its external website on Thursday that the bank would be significantly affected, though in a way different from other banks because Deutsche Bank already has a headquarters in the EU and operates with a branch in London. For Deutsche, the Bank of England would gradually become more important as a regulator.

 

In the first installment of a video series for staff called "Tower Talk: John Cryan on Brexit", Cryan sat down last week with Deutsche Bank's head of communications Joerg Eigendorf at the bank's London headquarters.

 

(This version of the story was corrected to make clear video was recorded last week and posted on Thursday)

 

(Reporting by Tom Sims)

 
Latest From ...
Most Popular From ...