Goldman Sachs begins relocation procedures for its London offices
- 3 months ago
Goldman Sachs is planning to reposition some 700 employees from its London offices to the E.U. as uncertainty surrounds the current Brexit deal situation.
Goldman’s workforce consists of around 6,000 in the U.K. and feels there will be an inability to continue serving its European clients and its access to the market.
It has already relocated 80 employees to closer cities such as Madrid, Frankfurt and Milan and it tripled its staff at the Stockholm offices, as it won’t wait around for any clarity on the whole Brexit deal, much like fellow bank Morgan Stanley.
Goldman’s head of government affairs for Europe, Africa and Asia, Martine Doyon stated ,”We already have entities in Europe and we are scaling them up… We have sourced additional real estate capacity in Frankfurt, Dublin, Milan, Warsaw and Stockholm and we are also looking at adding capacity in Paris and Madrid.”
She added,“We obviously hope for a better outcome but we are definitely in execution mode for an outcome where there is no deal.”
Source: Smart Trend Team