Goldman Sachs to Triple Frankfurt Headcount Due to Brexit

Wolfgang Fink, co-chief of Goldman Sachs (GS.N) in Germany, said the U.S. investment bank may triple or quadruple its presence in Frankfurt in light of Britain’s decision to leave the European Union.

Fink, speaking to bankers at a conference in Germany’s financial capital on Thursday, said the bank’s working assumption was that it was going to double its Frankfurt headcount from 200 now.

But under some scenarios, “we may triple or even quadruple” the number of people on the ground, he said, without elaborating.



The wide range of potential personnel moves highlights the uncertainty that financial institutions face with the unknowns of Brexit and how banks and clearing will be regulated.

Britain is home to most of Goldman’s European operations. It has about 6,000 employees there now, providing services including broking and market-making in securities, foreign-exchange trading and corporate finance across the region.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza