Strategy
Goldman Sachs To Have Frankfurt, Paris Hubs After Brexit, Says CEO

Goldman's CEO has already been vocal on social media to state that its new offices in London may be half empty.
Goldman Sachs’
chief executive has confirmed the US-headquartered firm will
have hubs in Frankfurt and Paris after Brexit, as it prepares to
move jobs out of the UK.
Lloyd Blankfein said during an interview with French newspaper
Le Figaro that Goldman Sachs was “approaching the
critical moment when we will have to make decisions” and that
Goldman would “not have a single centre, but two, in Frankfurt
and Paris.”
“We will have more employees on the continent. Some, if they
wish, will come from London and we will hire others,” said
Blankfein. “Afterwards, it is the people who will largely decide
where they prefer to live. And I can imagine that many Americans
would prefer to live in Paris than in Frankfurt for many
reasons.”
Blankfein has been vocal about the implications of Brexit on the
firm, and has stated it may be forced to move its EU
headquarters out of London,
as reported by
WealthBriefing.
According to Financial Times, Goldman
Sachs recently signed a lease on a Frankfurt skyscraper that
would allow it to employ 1,000 staff in the city - 800 more than
it currently employs.
The US banking and investment group is building a new office in
London, which will be based in Farringdon. The firm employs
around 6,500 staff in the UK.
This publication reported recently that Blankfein had
admitted that the new office may be left half empty when it is
completed. The FT also stated that the new London
site has been designed so sections can be sublet if it decides
not to occupy all of the 850,000 square foot of available space.