Thursday, 19 October 2017

Goldman Sachs boss signals Brexit shift to Frankfurt in tweet

There is further evidence of growing frustration over the direction of Brexit talks in a tweet by one of the most powerful bankers in the United States.
The chief executive of Goldman Sachs - America's fifth-largest bank by market value - took aim at London following a series of meetings in Frankfurt, tweeting: "Great meetings, great weather, really enjoyed it. Good, because I'll be spending a lot more time there. #Brexit."

Lloyd Blankfein made his remarks two weeks after the bank signed a lease to substantially increase its office space in Germany's financial centre.

It currently employs up to 200 people in Frankfurt but experts have suggested it could soon house up to 1,000 staff in the new complex.

The investment bank has refused to discuss numbers in detail and - like many rivals in financial services - is yet to declare its hand on whether it will relocate staff from the City of London or hire additional staff to guarantee its current access to the single market.

Nevertheless Frankfurt - home to the European Central Bank - is on course to become the largest recipient of Brexit-related new business within the EU ahead of the UK's looming divorce.

Goldman currently has around 6,500 workers in the UK.

SKY        News.