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Goldman Sachs chief talks up Frankfurt in Brexit jibe

Agnes Chambre

2 min read

The head of Goldman Sachs has suggested the banking giant could shift more jobs from London to Frankfurt after Brexit as he talked up a recent visit to the German city.

In a rare post on Twitter, Lloyd Blankfein said he plans to spend a lot more time in Frankfurt, where the US bank is reportedly planning to shift a portion of its UK operations after Britain leaves the EU.

“Just left Frankfurt. Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit," he tweeted.

Goldman Sachs announced earlier this month that it is leasing new space in Frankfurt that could hold up to 1,000 staff. The company currently employs 200 people in the city.

Earlier this year, the US bank’s chief executive Richard Gnodde said it was going to move hundreds of staff out of Britain before a Brexit deal is struck.

Goldman employs over 6,000 staff in the UK and the country is currently home to most of the bank’s European operations.

Mr Blankfein’s tweet comes after Philip Hammond pledged last month to stop Brussels introducing “protectionist” measures aimed at targeting the City.

He said it was his “priority” to ensure the UK remains the financial services centre of the world, as the country’s most important export to the EU.

Theresa May is set to tell EU citizens living in the UK they can stay after Brexit as she reveals a deal on the controversial issue is within “touching distance”.

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