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Goldman CEO says planning to spend a lot more time in Frankfurt

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Goldman CEO says planning to spend a lot more time in Frankfurt

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By Anjuli Davies LONDON (Reuters) – Goldman Sachs <GS.N> chief executive Lloyd Blankfein said he is planning to spend a lot more time in Frankfurt, as the Wall Street bank pushes ahead with plans to make the German city a major base for the bank after Britain leaves the European Union. “Just left Frankfurt. Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit” Blankfein tweeted on Thursday. The CEO had been meeting clients from across Germany and addressed an employee town hall. Britain is currently home to most of the Wall Street bank’s European operations where it has around 6,000 employees, but the firm needs to ensure it will still be able to service clients in the EU once Britain leaves the bloc and may have limited access to the EU’s single market. Earlier this month, the Wall Street bank said it had agreed to lease office space at a new building in Frankfurt giving it space for up to 1,000 staff as it prepares for Britain’s departure from the European Union. That would be five times the current staff of 200 and see the Wall Street giant bolstering activities including trading, investment banking and asset management Wolfgang Fink, Goldman’s co-head in Germany, said in September that the bank may triple or quadruple its headcount in the country. A spokesman for Goldman Sachs declined to comment further on Blankfein’s tweet.

(Reporting By Anjuli Davies; Editing by Rachel Armstrong)
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