Deutsche Bank Moves Half of its Euro Clearing to Frankfurt
The move by Germany's largest bank is being seen as an outcome of Brexit uncertainty
The story was first reported by the Financial Times.
Hubertus Väth, CEO at Frankfurt Main Finance, a lobby group for the German financial capital, foresees more such movements in Euro clearing to the city. “I have been told what Deutsche [Bank] has transferred is only the new business, they don’t transfer existing business,” he says. “They transfer only new business upon client’s request. And it is about 50 percent of the new business upon client’s request is being transferred. So obviously the
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