Goldman Sachs plans five-fold increase in Frankfurt staff for Brexit

Goldman Sachs has agreed to lease Frankfurt offices that would accommodate a five-fold increase in staff following Brexit.

The bank confirmed in an email that it would be renting the upper floors of a tower currently being built in the financial district, Bloomberg reports.

It reports the space is 10,000 square metres with enough room for 1,000 workers, compared to the 200 people it currently employs in Frankfurt.

“This expanded office space will allow us to grow our operations in Germany to serve our clients, as well as provide us with the space to execute on our Brexit contingency plan as needed,” Goldman Sachs spokesman Sebastian Howell said in the email.

The bank’s current offices are located outside the financial district.