Goldman Sachs set to move 1,000 jobs to Frankfurt

Goldman Sachs is reportedly considering moving 1,000 jobs to Frankfurt after Brexit.

German newspaper Handelsblatt reported that the US banking giant will ship 1,000 jobs to Frankfurt while effectively halving the rest of its UK workforce, moving key operations to New York and Europe.

The news comes following Theresa May’s tough stance on the exit negotiations, which has already prompted HSBC to move 1,000 jobs to Paris once Britain has formally left the EU.

Among roles earmarked for a move are those in compliance, traders, investment bankers who advise French and Spanish firms and back-office personnel, who would move to Warsaw.

A spokesman for Goldman Sachs said: “We continue to work through all possible implications of the Brexit vote. There remain numerous uncertainties as to what the Brexit negotiations will yield in terms of an operating framework for the banking industry. As a result we have not taken any decisions as to what our eventual response will be.”

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