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Goldman Sachs Says No Decision Taken on Post-Brexit U.K. Staff

  • Sunday Times reported Goldman to move 2,000 in hard Brexit
  • Goldman says it’s still studying implications of withdrawal

Goldman Sachs Group Inc. said it has yet to decide whether to move jobs from London after the Sunday Times reported it was preparing to shift 2,000 staff if Brexit costs banks easy access to Europe’s single market.

Responding to the report that the firm would move one in three of its U.K.-based employees elsewhere in Europe in the event of a so-called hard Brexit, a Goldman Sachs spokeswoman said the bank is still studying implications of the U.K.’s withdrawal from the European Union and that “numerous uncertainties” remain as governments negotiate terms.

“As a result we have not taken any decisions as to what our eventual response will be,” she said in an e-mailed statement.

Bank lobby groups have expressed increased concern that Prime Minister Theresa May’s government may not be able to maintain so-called passporting rights allowing financial firms to have bases in London and still provide services across the Continent. Executives from Goldman Sachs were among bankers warn against Brexit before the June 23 referendum.

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