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"Goldman Sachs is pushing ahead with making Frankfurt, Germany, its key European base. This week, the Wall Street giant agreed to lease multiple floors for offi

"Goldman Sachs is pushing ahead with making Frankfurt, Germany, its key European base. This week, the Wall Street giant agreed to lease multiple floors for offices in a 38-storey building, as part of its Brexit contingency plans." "The US investment bank, Goldman Sachs is to trial its Brexit contingency plans by making senior position transfers to Frankfurt, following concerns that the UK will lose it’s ‘passporting rights’." "Last month, Credit Suisse revealed it was planning to move about 250 of its 5,500 London banking jobs in the first phase its Brexit contingency plans. Bloomberg reported employees in areas such as trading and mergers and acquisitions were likely to be relocated to Frankfurt or Madrid, ..." https://www.independent.co.uk/news/business/brexit-latest-banks-commit-frankfurt-germany-eu-london-goldman-sachs-a8294651.html https://www.independent.co.uk/news/business/brexit-latest-ba... https://qz.com/1095155/brexit-contingency-plan-goldman-sachs-leases-floors-in-marienturm-tower-frankfurt-germany/ https://qz.com/1095155/brexit-contingency-plan-goldman-sachs... https://www.relocatemagazine.com/news/brexit-goldman-sachs-triggers-first-staff-moves-to-frankfurt-dsapsted https://www.relocatemagazine.com/news/brexit-goldman-sachs-t...

Nursie 6y ago
That Goldman Sachs article from 2017 is looking a little bit outdated in light of Goldman Sachs own press release about their new European HQ in London in 2019 - https://www.goldmansachs.com/careers/blog/posts/goldman-sachs-london-plumtree-court.html https://www.goldmansachs.com/careers/blog/posts/goldman-sach... So GS haven't moved headquarters, even though they have moved a small number of personnel. Some others appear to be increasing capacity in Frankfurt and other European centres, or at least they were two years ago. All very predictable and sensible given what may happen. But this still doesn't add up to "Banks kind of had to move their headquarters out of London". In fact so far there hasn't been a single example (here, in the thread) of a bank that has actually done that. Just a lot of speculation. (I'm not making any strong claims that it won't happen, by the way, I just wanted to challenge the trope that it already has happened)

Nursie 6y ago

That Goldman Sachs article from 2017 is looking a little bit outdated in light of Goldman Sachs own press release about their new European HQ in London in 2019 - https://www.goldmansachs.com/careers/blog/posts/goldman-sachs-london-plumtree-court.html https://www.goldmansachs.com/careers/blog/posts/goldman-sach... So GS haven't moved headquarters, even though they have moved a small number of personnel. Some others appear to be increasing capacity in Frankfurt and other European centres, or at least they were two years ago. All very predictable and sensible given what may happen. But this still doesn't add up to "Banks kind of had to move their headquarters out of London". In fact so far there hasn't been a single example (here, in the thread) of a bank that has actually done that. Just a lot of speculation. (I'm not making any strong claims that it won't happen, by the way, I just wanted to challenge the trope that it already has happened)