German bank’s huge new London HQ
DEUTSCHE Bank has signed up for a new London HQ the size of ten football pitches – despite threatening to sack thousands of City staff.
Its decision to take a new 469,000 sq ft premises at 21 Moorfields in the heart of the City suggests Deutsche remains deeply committed to the UK. And it casts doubt on bosses’ claims that the German lender might have to axe 4,000 UK jobs because of Brexit.
The bank, which has close ties to the pro-EU Berlin government, said it could shift nearly half its 9,000 UK staff abroad because of disruption as Brit- ain leaves the EU. Chief regulatory officer Sylvie Matherat made the claim in April at a Frankfurt conference organised by a lobby group promoting the German city as a financial centre. Deutsche’s new premises in London is being taken on a 21year lease from property company Landsec.