Mar 23 2017Add to Favorites
Sarah Jones, Bloomberg
Deutsche Bank AG is in exclusive talks to move its U.K. headquarters to a new building being constructed at 21 Moorfields in the City of London financial district.
Germany’s biggest bank is negotiating with Land Securities Group Plc on a 25-year lease for the building, with staff due to start moving across in 2023, according to a memo sent to the lender’s staff and seen by Bloomberg News. The move is subject to the lease being agreed to and the building gaining planning consent. Sky News reported the talks earlier Thursday.
Corporate demand for office space in London has fallen in the wake of the Brexit vote, with BNP Paribas SA estimating that firms leased 19 percent less space in central London in 2016 than a year earlier. Deutsche Bank, which is in the process of overhauling its businesses, said this month that the next phase of its plan will cause additional job losses. In 2015, it predicted that 9,000 jobs would be eliminated through 2018.
“The move underlines the bank’s commitment to the City of London and the importance it attaches to being an employer of choice in the capital,” Garth Ritchie, Deutsche Bank’s U.K. chief executive officer, said in the memo. “It will advance the bank’s strategic goals of increasing efficiency, reducing complexity and strengthening links between the business divisions and infrastructure functions.”
Segmenting the population by generation is part of popular culture. The generation that came of age in the 1970s is very different to that of the 1980s or 2000s, having grown up with different technology, political and social events.
When the market gets difficult as it is currently it makes you step back and re-assess. Whilst you can do all of the objective commercial assessment in the world, key drivers are ultimately emotional and psychological. Fundamentally it is your "why" that governs your "how". The strength of these emotional and psychological drivers is what gives you the ware withal and grit to know when to hold, fold, walk away or run.
A few years ago I watched an ESPN documentary on NBA and NFL players and this phenomenon how when their careers are up after their moment in the sun, most, 60% and 78% respectively, end up financially destitute. When you think about the fact that most of these professional athletes earn more in just a year of their career than what most of us will earn via our working jobs in a lifetime, yet end up with nothing, it is really a really interesting phenomenon. On the other hand, there is the story of the UPS worker who never earned more than $14,000 a year and invested consistently, amassing a fortune of $70 million over his lifetime, $36m of which he donated to education-based charities to support young people getting a quality education.
Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.SIGN UP HERE >