Dublin to benefit as Deutsche Bank relocates 100 roles from 'pricey' London

A small number of the moves are related to Britain’s departure from the EU but most are part of attempts to reduce costs

Headwinds from negative interest rates saw Deutsche cut forecasts for the corporate bank in December. Picture: Bloomberg

Deutsche Bank is moving about a quarter of its corporate bank’s UK staff to offices in the European Union and Asia as it looks to reduce costs at the division.

The changes will see about 100 jobs move to cities like Berlin, Dublin, Frankfurt and various cities across Asia, according to people familiar with the matter, who asked not to be identified discussing private matters. While some London-based staff can reapply for their jobs in the new locations, they will be required to take a pay cut.