July 20, 2017 / 3:44 PM / a year ago

CORRECTED-Deutsche Bank's CEO says plans for "reasonable worst-case" Brexit

(Corrects to make clear video was recorded last week and posted on Thursday)

FRANKFURT, July 20 (Reuters) - Deutsche Bank is planning for a “reasonable worst-case” scenario that predicts that Britain’s deal to leave the European Union will not be favourable for the financial services industry, Chief Executive John Cryan said.

Cryan said in a video published by Deutsche Bank on its external website on Thursday that the bank would be significantly affected, though in a way different from other banks because Deutsche Bank already has a headquarters in the EU and operates with a branch in London. For Deutsche, the Bank of England would gradually become more important as a regulator.

In the first instalment of a video series for staff called “Tower Talk: John Cryan on Brexit”, Cryan sat down last week with Deutsche Bank’s head of communications Joerg Eigendorf at the bank’s London headquarters. (Reporting by Tom Sims)

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