Goldman Sachs CEO Planning to Spend a More Time in Frankfurt


As the Wall Street bank advances with plans to make Frankfurt a major base for the bank after Britain leaves the European Union, Lloyd Blankfein, the chief executive of Goldman Sachs said that he is planning to spend a lot more time in the German city.

“Just left Frankfurt. Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit” tweeted Blankfein on Thursday.

Blankfein addressed an employee town hall and he had been meeting clients from across Germany.

Currently, Britain is home to the majority of the European operations of Wall Street bank where it has about 6,000 employees. However, the firm needs to make sure that it will still be able to service clients in the European Union once Britain withdraws from the bloc and may have restricted access to the EU’s single market.

Earlier this month, the Wall Street bank announced that it had agreed to lease an office space at a new building in Frankfurt giving it space for a maximum of 1,000 staff as it gets ready for the departure of Britain from the European Union.

That would be five times the present staff of 200 and see the Wall Street giant strengthening activities including investment banking, asset management, and trading.

In September, Goldman’s co-head in Germany, Wolfgang Fink, said that the bank may triple or quadruple the number of its employees

in the country.

A spokesperson for Goldman Sachs refused to comment further on the tweet of Blankfein.