Goldman Sachs’ Lloyd Blankfein says filling London office is “outside our control” because of Brexit

Goldman Sachs remains committed to its new European headquarters in London but filling it up remains “outside our control” because of Brexit, its chief executive Lloyd Blankfein tweeted today.

In his second tweet in the last fortnight on Brexit, Blankfein said: “In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit”.

In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to fill it up, but so much outside our control.#Brexit pic.twitter.com/XwrIcqwM1t— Lloyd Blankfein (@lloydblankfein) October 30, 2017

The US investment banking giant currently employs more than 6,000 staff in London, with an as yet unknown number of jobs to move after Brexit. The office will have 1.1m square feet of space, but the firm has an option to take less space if necessary.

Prospects for the scale of a move will likely depend on the regulatory environment for foreign investment banks when the UK leaves the EU. Banks are expected to lose passporting access from the UK to the rest of Europe unless the government’s ambition for a deal allowing mutual market access is realised.

The firm is expected to move into its new London office on Holborn Viaduct in 2019, at the same time as the UK will leave the EU. Goldman Sachs’ European headquarters is currently based on Fleet Street, around the corner from the nearly completed new office.

Blankfein previously tweeted after visiting Frankfurt, the German financial capital where the bank this month signed a lease on 107,000 sq ft of space in preparation for Brexit.

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