Goldman Sachs Will Start Moving U.K. Staff on Brexit in 2018
- Offices in Milan, Madrid and Paris to be expanded, Gnodde says
- Firm is pushing U.K., EU officials for lengthy transition
Goldman Sachs Group Inc. plans to start moving London-based staff and operations to new or expanded offices inside the European Union next year, as it prepares for the U.K. to lose easy access to the single market after Brexit, the firm’s co-head of investment banking said.
The bank will relocate client-facing staff to various EU cities including Madrid, Milan and Paris, Richard Gnodde said in a Goldman Sachs podcast earlier this week. The rest of this year will be spent establishing which businesses go where and how many staff will move, he said.