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PRIVACY
Economic Development

Deutsche Bank ponders leaving º£½ÇÊÓÆµ on EU exit

Banks employs more than 2,000 at base in Brindleyplace and is one of several major corporate firms in the city

Five Brindleyplace, home to Deutsche Bank in Birmingham which is said to be considering leaving the º£½ÇÊÓÆµ if it exits the EU

is said to be considering whether to relocate some of its º£½ÇÊÓÆµ operations if Britain left the EU which could impact on its base in Birmingham.

The German to Brindleyplace as part of a wider change programme by the group which saw employees move to new locations across its global operations.

According to reports, Deutsche Bank has established a working group to assess the consequences of a possible departure by Britain, known as 'Brexit', following an in/out referendum which Prime Minister David Cameron has pledged to hold by 2017.

A spokesman for the bank told the BBC it was "early days and no decisions have been made".

The Financial Times said it was the first financial giant to review its position formally and it would consider whether to move some parts of the business back to Germany.

According to the company's website it employs more than 8,000 people in the º£½ÇÊÓÆµ and serving clients previously handled by teams in the captial.

Other and to base thousands of staff in Birmingham.

The news comes after senior figures at Staffordshire manufacturing giant JCB this week suggested the º£½ÇÊÓÆµ would not suffer any adverse effects from leaving the EU.