Goldman Sachs to move half its London bankers to Frankfurt
Giant investment bank Goldman Sachs plans to move 1,000 of its City of London traders and bankers to Frankfurt when the UK exits from the European Union, according to reports in Germany on Thursday.
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Goldman's post-Brexit rejig will see its headcount in London cut to around 3,000 from the current near-6,000, German business daily Handelsblatt reported.
Citing sources within the financial industry, the newspaper reported that the bank was "weighing transferring up to 1,000 employees to Frankfurt, including traders as well as top bankers".
Goldman, famously once described as a "vampire squid wrapped around the face of humanity", plans to create a listed company in Frankfurt as the parent of all of its European businesses, Handelsblatt also reported.