British Prime Minister David Cameron has warned a Brexit would weigh on the country's financial sector. He says many jobs would be destroyed.
The Anglo-Dutch company will scrap its London corporate headquarters and make Rotterdam its sole legal home. The move is seen as a blow to efforts to keep post-Brexit investment in the country.
German companies have demanded that Britain agrees by next week to an interim phase for its exit from the EU. If no deal is reached at an EU summit, firms must begin planning for a worst-case "hard Brexit."
The prime minister maintains that Britain is worse off when it abides by decisions made in Brussels. But an industry services lobbying group says finance companies are already fleeing Britain.
British Prime Minister Theresa May has tried to breathe new life into the Brexit negotiations. The European Union has blamed British officials in recent weeks for a lack of progress during the talks.
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