U.S. Markets closed

Deutsche Post customers more worried about hard Brexit than trade wars - CEO

BERLIN (Reuters) - Deutsche Post DHL's (DPWGn.DE) customers are more worried about that Britain is heading for a hard Brexit than the prospect of a trade war and are already shifting operations, the German postal and logistic group's CEO said on Tuesday.

"Customers are starting to move operations from the UK to mainland Europe. That's more imminent than... a trade war," Deutsche Post DHL CEO Frank Appel told analysts after the group published second quarter results.

He said Brexit could even bring benefits for Deutsche Post, because there could be a business opportunity in helping customers manage the increased complexity and costs as a result.

"We are not dependent on one region or trade lane, we are really global," he added.

(Reporting by Victoria Bryan)