Economy

Goldman Sachs' Lloyd Blankfein just threw some serious Brexit shade

Lloyd Blankfein made his remarks two weeks after the bank signed a lease to substantially increase its office space in Germany's financial centre.

Goldman Sachs announced earlier this month that it is leasing new space in Frankfurt that could hold up to 1,000 staff.

The chief executive of Goldman Sachs - America's fifth-largest bank by market value - took aim at London following a series of meetings in Frankfurt, tweeting: "Great meetings, great weather, really enjoyed it".

Goldman has been scouting for office space in Frankfurt that could serve as its new trading hub inside the European Union after Brexit, people with knowledge of the matter told Bloomberg in June. Good, because I'll be spending a lot more time there.

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.

Earlier this year, the U.S. bank's chief executive Richard Gnodde said it was going to move hundreds of staff out of Britain before a Brexit deal is struck. The bank is also thought to be looking at expanding its operation in Paris. Reports that Goldman could move some United Kingdom staff to Frankfurt due to Brexit first emerged in November 2016.

Despite possibly spending more time in Frankfurt, however, he appears to have a soft spot for London.

During a visit to the country following a terror attack in the capital he said: "Beautiful day in London".

Mr Blankfein, who has been the CEO of Goldman Sachs since 2006, appears to have joined Twitter back in June 2011, but only sent what looked to be his first tweet ever in June this year.



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