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Opinion

Hell no, we won’t go!

After years of trying to make its mark on Wall Street, Deutsche Bank is finally taking up residence there. There's only one problem - the staff don't want to go.

"There's nothing down there, no decent stores to go to at lunchtime, it's just dead," wails one banker so wedded to midtown that she is threatening to chain herself to her desk rather than be relocated. "There's not even a decent coffee shop, just the usual chains."

Her complaints are typical of Deutsche staff who view it as a humiliating move for the bank. Its current headquarters are on 52nd Street near Sixth Avenue.

Now it's moving to 60 Wall Street, and that just adds to the pain. It's the former home to the old JP Morgan, a firm Deutsche tried to buy on more than one occasion before Chase snapped it up. Now it's finally getting its hands on it, there's nobody there any more.

Nor are there any competitors. Bank of New York still has a home at Number 1, Goldman Sachs is just around the corner at 85 Broad Street and Merrill Lynch is in the World Financial Centre but most others have fled the nest and moved to midtown.

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