August 5, 2016 / 9:15 AM / in 4 years

Commerzbank to finish trader moves from London to Frankfurt by year end

A man smokes outside Commerzbank's headquarters before the bank's annual news conference in Frankfurt, Germany, February 12, 2016. REUTERS/Ralph Orlowski/File Photo

LONDON (Reuters) - Germany’s Commerzbank is set to complete a move of around 80 fixed income and foreign exchange traders from London to its Frankfurt base by year-end, a bank spokesman said on Friday.

The move, part of a broader strategic reshuffle announced in early 2015, comes as Britain’s vote to leave the European Union in June has raised questions about London’s position as a centre for global finance.

“This process is almost complete and expected to be finalised by year-end 2016,” said the spokesman, adding the decision had not been impacted by the Brexit vote in June.

Reporting by John Geddie; Editing by Alexander Smith

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