Company detailsCompany name: Deutsche BankCompany country: GermanyGroup home country: GermanyNumber of employees: 99744Sector: K - Financial and insurance activitiesSector detail: K64 - Financial service activities, except insurance and pension funding Reshoring detailsReshoring announcement date: 13/01/2018Starting implementation date: January, 2018End of Implementation : December, 2018Reshored to: GermanyLocation of affected unit(s): Frankfurt Location code: DE403Reshored services/activities: Trading, risk management, legal stuff and support activities.Partial or Total reshoring: PartialReshoring governance mode: In house (in own facilities)Reasons for reshoring: BrexitCase narrative: Germany's Deutsche Bank will relocate to Frankfurt some of its financial services. More specifically trading, risk management, legal and support activities will be moved from London. The main motivation is Brexit since the booking of trades might not be allowed outside of the European Union. The process will begin in the coming weeks, and the final implementation should happen in the end of 2018. As far as jobs relocation regards, the company indicates a few hundred. In the past months media outlets had announced that approximately 4,000 jobs cuts were expected but the company denied it. The relocation is expected to concern also other European locations; at the moment media outlets refer movements to Milan and France. Sources: Neue Zürcher Zeitung, 13 January 2018 The New York Times, 17 January 2018 Reuters, 17 January 2018 Sources link: https://www.nzz.ch/wirtschaft/wir-haben-unsere-vorteile-nicht-genutzt-ld... https://www.nytimes.com/reuters/2018/01/17/business/17reuters-deutsche-b... https://uk.reuters.com/article/uk-deutsche-bank-brexit/deutsche-bank-to-... Offshoring detailsOffshoring location: United KingdomOffshoring governance mode: In house (in own facilities)Host country geographical area: Western Europe
