Deutsche Bank studies possible partial move from Britain if Britain votes to exit EU

Associated Press

Deutsche Bank says it has established a working group to consider whether to move some operations out of Britain if the country votes to leave the European Union.

The bank said Tuesday the possibility of Britain pulling out from the EU is causing concerns with clients.

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Prime Minister David Cameron has promised a referendum on Britain's membership by 2017. Many in business want a vote next year to limit the uncertainty.

Bank officials say the working group would study whether it would be "advantageous for certain activities to be repatriated to the eurozone, specifically to Germany." The group would include senior executives from its strategy, risk, research and U.K. management departments.

The bank has had operations in Britain since 1873 and employs 9,000 employees in the country at 16 locations.