We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Deutsche Bank (DB) to Shift Operations to Frankfurt Soon
Read MoreHide Full Article
Deutsche Bank AG (DB - Free Report) is set to move a major part of its business currently executed in London to its headquarters in Frankfurt due to Brexit. The news was first reported by Bloomberg.
The strategy is being finalized by the bank and is expected to take effect over the next 18 months. Deutsche Bank will review the strategies if the current Brexit scenario changes.
As a Brexit fallout, Britain will lose the “passporting rights” that enable international banks to open branches and conduct business easily in any part of the European territory after being registered once. As a result, Deutsche Bank chose Frankfurt as the new booking hub and turn the London branch into a subsidiary that would require more capital.
The process is expected to be gradual with its workforce shifting the accounts, processes, booking structures and legal entities to Frankfurt.
Further, Brexit will also affect the count of people currently employed in Britain. Per the bank, about 4000 jobs are likely to be affected.
The transition to a Frankfurt booking hub will require investments in infrastructure, technology and office space, per the report.
Standard Chartered PLC (SCBFF - Free Report) and Nomura Holdings, Inc. (NMR - Free Report) are a couple of other companies that have chosen Frankfurt as their next financial hub in the European Union. Goldman Sachs Group, Inc. (GS - Free Report) and Morgan Stanley (MS - Free Report) are still to reach a decision about it.
Deutsche Bank has been successful in reducing expenses in the last few quarters due to its cost-saving initiatives. However, involvement in several litigations and restructuring efforts might weigh on those initiatives. Moreover, the low interest rate environment and intense competition should continue to impact its performance
Shares of Deutsche Bank have gained 47.8% over the last six months, outperforming the Zacks categorized Banks – Foreign industry’s rally of 38.7%.
Currently, the bank carries a Zacks Rank #5 (Strong Sell).
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Deutsche Bank (DB) to Shift Operations to Frankfurt Soon
Deutsche Bank AG (DB - Free Report) is set to move a major part of its business currently executed in London to its headquarters in Frankfurt due to Brexit. The news was first reported by Bloomberg.
The strategy is being finalized by the bank and is expected to take effect over the next 18 months. Deutsche Bank will review the strategies if the current Brexit scenario changes.
As a Brexit fallout, Britain will lose the “passporting rights” that enable international banks to open branches and conduct business easily in any part of the European territory after being registered once. As a result, Deutsche Bank chose Frankfurt as the new booking hub and turn the London branch into a subsidiary that would require more capital.
The process is expected to be gradual with its workforce shifting the accounts, processes, booking structures and legal entities to Frankfurt.
Further, Brexit will also affect the count of people currently employed in Britain. Per the bank, about 4000 jobs are likely to be affected.
The transition to a Frankfurt booking hub will require investments in infrastructure, technology and office space, per the report.
Standard Chartered PLC (SCBFF - Free Report) and Nomura Holdings, Inc. (NMR - Free Report) are a couple of other companies that have chosen Frankfurt as their next financial hub in the European Union. Goldman Sachs Group, Inc. (GS - Free Report) and Morgan Stanley (MS - Free Report) are still to reach a decision about it.
Deutsche Bank has been successful in reducing expenses in the last few quarters due to its cost-saving initiatives. However, involvement in several litigations and restructuring efforts might weigh on those initiatives. Moreover, the low interest rate environment and intense competition should continue to impact its performance
Shares of Deutsche Bank have gained 47.8% over the last six months, outperforming the Zacks categorized Banks – Foreign industry’s rally of 38.7%.
Currently, the bank carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>