Goldman Sachs to move hundreds of City jobs to Europe

Business-People-Silhouette-Leaving-Walking-700x450.jpgGoldman Sachs is planning to move ‘hundreds’ of London-based jobs to Europe as part of its Brexit contingency plans.

The chief executive officer of Goldman Sachs International, Richard Gnodde, says the plan entails moving jobs out of London as well as hiring personnel in Europe, CNBC reports.

“It will be a combination of things. We’ll hire people inside of Europe itself and there will be some movement,” Gnodde says. “For this first period, this is really the period where we put in place these contingency plans, this in the hundreds of people.”

The firms operations in a number of European cities will be expanded as part of the plans, although London “will remain for us a very significant regional hub and a significant global hub”, Gnodde says.