BREAKING NEWS

Goldman could move up to 1,000 London staff to Frankfurt -Handelsblatt

By REUTERS

JANUARY 18, 2017 21:38

BERLIN - Goldman Sachs is considering moving up to 1,000 staff from London to Frankfurt because of concerns over Britain's vote to leave the European Union, Germany's Handelsblatt newspaper reported on Thursday, citing financial sources.

The U.S. bank is considering halving its London staff to 3,000 and moving key operations to New York and continental Europe, particularly Frankfurt, the paper reported.

Staff moving to Frankfurt would include traders and managers responsible for regulation and compliance, the paper's sources said. Back-office personnel would move to Warsaw and investment bankers who advise French and Spanish companies would move to those countries.

Earlier on Wednesday, UBS said that about 1,000 of the Swiss bank's 5,000 employees based in London could be affected by the so-called Brexit, while HSBC said the bank could relocate 1,000 staff to Paris.

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