Deutsche Bank 'considers moving operations from UK'

Deutsche Bank will consider whether it should relocate some of its UK operation to mainland Europe if Britain decides to leave the EU, according to reports.

The German lender, which employs about 8,000 people in the UK, has established a working group to assess the consequences of a possible "Brexit" following an in/out referendum, which David Cameron has pledged to hold by 2017.

The Financial Times said it was the first financial giant to formally review its position and it will consider whether to move some parts of the business back to Germany