Major financial firms target London exit
Goldman Sachs and Morgan Stanley are among banks preparing to move staff and operations out of the UK capital before Brexit deal is struck
Frankfurt — Senior Goldman Sachs Group and Morgan Stanley executives say they are preparing to shift staff and operations from London to elsewhere in the European Union as British Prime Minister Theresa May sets up the UK’s exit from the bloc. A day after May’s office announced she would open two years of divorce talks with the EU on March 29, Richard Gnodde, co-head of investment banking at Goldman Sachs, told CNBC on Tuesday that his bank will initially relocate hundreds of London-based employees to expand other offices after the split. "We’ll hire people inside of Europe itself, and there will be some movement," he said.
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