Goldman Sachs boss raises new concerns over post-Brexit UK
THE chief executive of Goldman Sachs has raised concerns that the US banking giant may not be able to fill its new European headquarters in London due to Brexit.
Lloyd Blankfein took to Twitter yesterday, posting a birds-eye photo of the under-construction headquarters that is set to open in 2019, as he expressed worries over continued uncertainty.
He tweeted: “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”
The new office – which is being built just off Farringdon Street and near its Peterborough Court headquarters – is expected to be around nine storeys high when it is ready to house staff in two years’ time.
However, it is understood that Goldman has kept the option of letting out remaining space to other tenants, depending on how much square footage it needs for its local workforce.
It is the second time this month that Mr Blankfein has aired his Brexit views on the social media site.
On October 19, he detailed a recent trip to Frankfurt, where the US bank is planning to shift a portion of its UK operations after Brexit. He said: “Just left Frankfurt. Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there.”
Goldman Sachs, which employs around 6,500 people in the UK, has previously confirmed that it is looking to at least double its 200-strong employee base in Frankfurt as part of its Brexit contingency plans.
A raft of international banks, insurers and asset managers are preparing to shift portions of their UK operations to the Continent in preparation for Britain’s divorce from the EU.
Many have turned to Dublin, while others have reached out to the likes of Paris and Luxembourg. But Frankfurt has emerged as one of the biggest beneficiaries of Brexit so far as London-based financial firms increasingly opt to relocate staff to Germany’s financial centre.