Deutsche Bank could move up to 4,000 jobs out of the UK as a result of Brexit – nearly half its UK workforce.
The possibility raised by the firm’s chief regulatory officer was the latest warning from a financial firm since the UK voted to leave the European Union.
Currently, UK-based companies can conduct business throughout Europe, but could lose that right.
The warning came ahead of Deutsche’s latest results which showed that job cuts had boosted profits.
The bank reported that first-quarter profits more than doubled to $631.4 million USD helped by cost-cutting efforts which have seen 3,300 job losses in the past 12 months.