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Goldman Moves London Traders to Milan in Fresh Brexit Shift

  • Wall Street firm relocating some of euro swaps trading desk
  • Headhunters say bankers are drawn by generous tax incentives
The Milan skyline.

The Milan skyline.

Photographer: Alessandro Bremec/Getty Images

Goldman Sachs Group Inc. is shifting some of its euro swaps trading desk to Milan from London, the latest example of roles moving to the continent after Brexit.

The Wall Street giant is relocating staff as it bolsters European offices in the wake of the UK’s departure from the European Union, according to people familiar with the matter. Staff will likely move early next year and Goldman will also be hiring staff locally, two of the people said.