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Goldman's Blankfein says London could stall due to Brexit - BBC
May 5, 2017 / 6:26 AM / 7 months ago

Goldman's Blankfein says London could stall due to Brexit - BBC

LONDON (Reuters) - Goldman Sachs (GS.N) Chief Executive Officer Lloyd Blankfein said London’s financial centre could stall due to the upheaval Brexit will inflict on financial services companies, the BBC reported.

Goldman Sachs Group, Inc. Chairman and Chief Executive Officer Lloyd Blankfein speaks at the Clinton Global Initiative 2014 (CGI) in New York, September 24, 2014. REUTERS/Shannon Stapleton/File Photo

When asked by the BBC whether London’s long-term expansion over the past three decades would reverse, Blankfein said: “I don’t think it will totally reverse.”

    “It will stall, it might backtrack a bit, it just depends on a lot of things about which we are uncertain and I know there isn’t certainty at the moment,” Blankfein was quoted as saying.

    Goldman wants an implementation period of at least “a couple of years” once the British exit deal is agreed, he said.

    Goldman has “contingency plans” to move people depending on the outcome of the negotiations, he said.

    Reporting by Guy Faulconbridge; editing by Costas Pitas

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