FRANKFURT AM MAIN: US bank Goldman Sachs will move 1,000 staff
from London to Frankfurt as part of a post-Brexit reorganisation that will
reduce its City headcount by half, German business daily Handelsblatt reported
Thursday.
"The bank is weighing transferring up to 1,000 employees to
Frankfurt, including traders as well as top bankers," the paper reported,
citing financial industry sources.
In total, Goldman Sachs will cut its headcount in London from
6,000 to around 3,000.
Goldman plans to create a listed company in Frankfurt as the
parent of all of its European businesses, a person familiar with the plans told
Handelsblatt.
Frankfurt was the top choice because that is where the European
Central Bank -- which supervises the largest banks in the eurozone -- is
headquartered.
Other London-based posts will be moved to New York, France,
Spain and Poland.
British bank HSBC confirmed Wednesday that 1,000 of its
investment banking jobs would leave London for Paris, after UK Prime Minister
Theresa May announced that her country would leave the European common market.
Multinational banks with a European base in London risk losing
the right to do business in the remaining 27 EU countries once Britain has
left, as UK-based financial firms may no longer be granted a
"passport" to trade within the bloc.
Cities across the EU, including Frankfurt, Paris and Dublin,
have been jostling to attract banks mulling moves away from the City of London.
Copyright
AFP (Agence France-Press), 2017
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