- John Moore/Getty Images
Goldman Sachs CEO Lloyd Blankfein spelled out the bank’s post-Brexit plans for Europe in a Tweet.
“Just left Frankfurt,” he tweeted. “Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit.”
Goldman Sachs currently employs 6,500 people in the UK and currently has around 200 staff in Frankfurt.
But the bank recently leased a space in a Frankfurt tower block that could hold up to 1,000 staff.
Goldman has reportedly been looking for office space in Frankfurt, which is Germany’s financial powerhouse and the home of the European Central Bank, in recent months in order to continue operations across the EU in the post-Brexit environment. Reports that Goldman could move some UK staff to Frankfurt due to Brexit first emerged in November 2016.
Other banks have also been making plans for the post-Brexit environment. US bank Citi confirmed earlier this month it will open a European private banking hub in Luxembourg after Brexit.
The Bank of England recently warned that international banks were beginning to implement their worst-case scenario Brexit plans given the UK’s inability to date to secure a transition deal.
Banks need at least a year to set up fully licensed EU subsidiaries and without a transition deal, the March 2019 Brexit deadline means many are beginning to execute plans to relocate jobs to ensure a services for European clients are not disrupted.
Back in June 2016, the UK voted to leave the European Union in the so-called Brexit vote.
As for Blankfein, Friday is not the first time the Goldman CEO has taken to Twitter to comment on political events. He has previously commented on US President Donald Trump and his policies.
He posted his first tweet after President Donald Trump pulled out of the Paris agreement on climate change:
Today's decision is a setback for the environment and for the U.S.'s leadership position in the world. #ParisAgreement
— Lloyd Blankfein (@lloydblankfein) June 1, 2017
During and after a trip to China, he commented on the administration’s “Infrastructure Week”:
Arrived in China, as always impressed by condition of airport, roads, cell service, etc. US needs to invest in infrastructure to keep up!
— Lloyd Blankfein (@lloydblankfein) June 6, 2017
Just landed from China, trying to catch up…. How did "infrastructure week" go?
— Lloyd Blankfein (@lloydblankfein) June 9, 2017
And after the violence at the white-supremacist protests in Charlottesville, Virginia, this month, he cited Abraham Lincoln’s “House Divided” speech:
Lincoln: "A house divided against itself cannot stand." Isolate those who try to separate us. No equivalence w/ those who bring us together.
— Lloyd Blankfein (@lloydblankfein) August 14, 2017