March 7, 2018 / 6:01 PM / in 3 months

Goldman Sachs starts to transfer some senior bankers to Frankfurt due to Brexit

FRANKFURT (Reuters) - Goldman Sachs is starting to move some senior bankers to Frankfurt in preparation for Britain’s exit from the European Union, the investment bank’s co-chief for Germany said on Wednesday.

FILE PHOTO: A sign is displayed in the reception of the Sydney offices of Goldman Sachs in Australia, May 18, 2016. REUTERS/David Gray/File Photo

“We’re starting to build infrastructure by making transfers and moving senior people to Frankfurt,” Joerg Kukies said at a conference, without giving the number of staff involved. “The two cities we are looking at the most are Frankfurt and Paris.”

Reuters reported earlier that Goldman Sachs had put more than a dozen UK-based banking, sales and trading staff on notice to move to Frankfurt within weeks, according to two sources with knowledge of the matter. [nL5N1QP3FF]

Reporting by Hans Seidenstuecker; Writing by Tom Sims; Editing by Mark Potter

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