US bank moving UK staff to Europe

GOLDMAN Sachs has put more than a dozen UK-based banking, sales and trading staff on notice to move to Frankfurt within weeks, sources said, as it braced for divorce between Britain and the European Union.

After months of patience and private lobbying, the US investment bank has decided it can no longer wait for clarity from politicians on how its business might be affected by Britain’s imminent exit from the trading bloc and is taking the steps to minimise disruption to clients.

It has informed members of its London-based derivatives and debt capital markets teams to make the necessary preparations to move by the end of June, sources said. – Reuters