Tuesday, 21 March 2017

Goldman Sachs to Move Hundreds of Staff Out of London due to Brexit

THE GUARDIAN: Bank, which employs 6,000 staff in UK, says it will take extra space in Frankfurt and Paris as part of contingency plan

Goldman Sachs is to start moving hundreds of staff out of London before a Brexit deal is struck, the bank’s European boss has confirmed.

Richard Gnodde, chief executive of Goldman Sachs International, said on Tuesday the decision to relocate staff was part of the bank’s contingency plan for the UK leaving the EU. “We are going to start to execute on those contingency plans”, he told CNBC.

Gnodde said the bank, which currently employs 6,000 staff in London, would take extra office space in Frankfurt and Paris. » | Jill Treanor | Tuesday, March 21, 2017