(Bloomberg) -- DWS Group GmbH & Co. plans to move out of its London headquarters by the end of the year, according to an internal memo seen by Bloomberg.
The asset management unit majority-owned by Deutsche Bank AG will move out of the Zig Zag building near Westminster Cathedral and relocate to the Willis building in the City of London, according to the memo.
A spokesman for the firm confirmed the contents of the statement and declined to comment.
Deutsche Bank, which signed a 15-year lease for the Zig Zag building with Land Securities Group Plc and started moving employees in two years ago, is building its new U.K. headquarters in the City of London’s financial district. The German lender is planning to eliminate about 18,000 jobs globally under a restructuring plan announced in July by Chief Executive Officer Christian Sewing.
The Willis Building is located at 30 Fenchurch Avenue. The asset manager, which was spun off by Deutsche Bank last year, will occupy two and a half floors, according to the memo.
To contact the reporter on this story: Suzy Waite in London at swaite8@bloomberg.net
To contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Patrick Henry
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