The CEO of Goldman Sachs cryptically tweeted about the bank’s post-Brexit plans in the UK – Business Insider



lloyd blankfein
Goldman Sachs Chairman and
CEO Lloyd Blankfein

REUTERS/ Pascal
Lauener


  • 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.”

Get the latest Goldman Sachs stock price here.



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