RESHORING CASE

Deutsche Bank (updated news on Germany Headquarters)

Company details
Company name: 
Deutsche Bank
Company country: 
Germany
Group home country: 
Germany
Number of employees: 
99744
Sector: 
K - Financial and insurance activities
Sector detail: 
K64 - Financial service activities, except insurance and pension funding
Reshoring details
Reshoring announcement date: 
13/01/2018
Starting implementation date: 
January, 2018
End of Implementation : 
December, 2018
Reshored to: 
Germany
Location of affected unit(s): 
Frankfurt
Location code: 
DE403
Partial or Total reshoring: 
Partial
Reshoring governance mode: 
In house (in own facilities)
Reasons for reshoring: 
Brexit
Case 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 

Offshoring details
Offshoring location: 
United Kingdom
Offshoring governance mode: 
In house (in own facilities)
Host country geographical area: 
Western Europe