Goldman Said to Shut Geneva Office, Sending Some Staff to Zurich

  • Firm said to offer most of branch's 18 workers new roles
  • Much of the office's workforce focuses on private banking

Goldman Sachs Group Inc. plans to close a branch in Geneva to streamline operations, according to a person briefed on the situation.

The firm has entered talks with the 18 employees at the office, most of whom work in private banking, said the person, who asked not to be identified as the move isn’t public. Most of the workers will be offered new roles at the New York-based firm’s branch in Zurich or elsewhere, the person said.

Reuters reported the plans earlier Monday.

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