London and the UK will remain Europe’s top financial centre over the next decade, according to Deutsche Bank’s chief executive John Cryan, despite fears in the City that the vote to leave the EU could be ruinous for the industry.

That represents a turnaround from his previous view that London’s position as a financial hub would be put at risk by the vote, on the basis that much EU bond trading would flee the City.

Mr Cryan does, however, maintain that Britain’s financial district will “be very different” as its relationship with the rest of Europe changes.