- Goldman Sachs CEO Blankfein tweets about the bank’s new London office and Brexit plans.
- “In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit” — he wrote.
- Tweet comes 11 days after a similar tweet about the bank’s new Frankfurt office.
LONDON — Goldman Sachs CEO Lloyd Blankfein on Monday posted another tweet about the bank’s post-Brexit plans in the UK, saying that “so much” is outside its control when it comes to the UK’s exit from the bloc.
“In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit” Blankfein tweeted at exactly noon on Monday.
Goldman Sachs currently employs 6,500 people in the UK and is investing heavily in a new office in the capital, London. Goldman is however, expected to move a significant number of staff out of the UK as a result of Brexit, ramping up operations in the German city of Frankfurt.
Any movement of staff from the capital is likely to be undertaken in order to continue operations across the EU in the post-Brexit environment, when the UK will almost certainly lose financial passporting rights.
Banks need at least a year to set up fully licensed EU subsidiaries and without a transition deal, the March 2019 Brexit deadline means many are beginning to execute plans to relocate jobs to ensure a services for European clients are not disrupted.
Blankfein’s tweet comes just over a week after he shared his thoughts on a trip to the German city, in which he said he’ll be “spending a lot more time there.”
“Just left Frankfurt,” he tweeted on October 19. “Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit.”
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In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit pic.twitter.com/XwrIcqwM1t
— Lloyd Blankfein (@lloydblankfein) October 30, 2017