Deutsche Bank Begins U.K. Review as EU Exit Vote Looms, FT Says

Deutsche Bank AG is reviewing whether to move parts of its U.K. operations to Germany if Britain leaves the European Union, the Financial Times reported.

The bank, with 9,000 employees in the U.K., is the first large lender to begin a formal review of the potential fallout from a future referendum on EU membership, the newspaper reported Monday, without saying it how it got the information. Frankfurt-based Deutsche Bank has established a working group composed of senior risk, strategy and research executives to plan for a possible exit, the FT said.