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Banks

Goldman Sachs commits to new central Paris headquarters

FILE PHOTO: The ticker symbol and logo for Goldman Sachs is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

LONDON (Reuters) - U.S. bank Goldman Sachs GS.N has signed a lease for a new Paris headquarters building, committing to a city centre office development at a time when many banks are weighing scaling back their presence in cities amid the COVID-19 pandemic.

Goldman has signed a 12-year deal for 6,500 square metres of space at 83 Marceau, an office building being redeveloped a block away from the Arc de Triomphe, developer SFL said on Tuesday. The commitment represents 81% of the building’s floor space.

The project is expected to be completed in the third quarter of 2021.

Reporting by Sinead Cruise, Writing by Iain Withers, Editing by Chris Reese

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