Goldman Delays Launch of Consumer Bank in Germany, FT Says
Photographer: Photographer: Scott Eells/Bloomberg
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Goldman Sachs has put off the German launch of its consumer bank Marcus until next year because of the delay in Brexit and cost constraints, the Financial Times reported on Sunday, citing two people familiar with the situation.
Had Brexit taken place on March 29 as planned, Goldman would have "wanted Germany more urgently," one of the people said, referring to the need to fund Goldman’s trading operation in Frankfurt for European Union clients.