Goldman Sachs CEO Lloyd Blankfein spelled out the bank’s post-Brexit plans for Europe in a Tweet.
“Just left Frankfurt,” he tweeted. “Great meetings, great weather, really enjoyed it. Good, because I’ll be spending a lot more time there. #Brexit.”
Goldman Sachs currently employs 6,500 people in the UK and currently has around 200 staff in Frankfurt.
But the bank recently leased a space in a Frankfurt tower block that could hold up to 1,000 staff.
Goldman has reportedly been looking for office space in Frankfurt, which is Germany’s financial powerhouse and the home of the European Central Bank, in recent months in order to continue operations across the EU in the post-Brexit environment. Reports that Goldman could move some UK staff to Frankfurt due to Brexit first emerged in November 2016.
Other banks have also been making plans for the post-Brexit environment. US bank Citi confirmed earlier this month it will open a European private banking hub in Luxembourg after Brexit.
The Bank of England recently warned that international banks were beginning to implement their worst-case scenario Brexit plans given the UK’s inability to date to secure a transition deal.
Banks need at least a year to set up fully licensed EU subsidiaries and without a transition deal, the March 2019 Brexit deadline means many are beginning to execute plans to relocate jobs to ensure a services for European clients are not disrupted.
Back in June 2016, the UK voted to leave the European Union in the so-called Brexit vote.
As for Blankfein, Friday is not the first time the Goldman CEO has taken to Twitter to comment on political events. He has previously commented on US President Donald Trump and his policies.