Deutsche Bank Said to Prepare Retreat From London

The transcript discusses the strategic changes at Deutsche Bank in response to Brexit and beyond. Initially, it highlights preparatory changes similar to other banks. However, Deutsche Bank's strategy unveiled in March focuses on Germany and Europe, indicating a broader strategic reconsideration. The bank is shifting its operations, potentially moving out of London, to become more German-centric. This is the first step in a series of changes, contrasting with other banks whose changes are less extensive. The discussion also touches on the relocation of EU-facing staff from London to the EU.

What does the speaker suggest about the future of Deutsche Bank's character?

What does the term 'EU facing staff' imply in the context of Deutsche Bank's changes?