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Tuesday, 30 May 2017

London looks set to take the hit from hard Brexit

London looks set to take the hit from hard Brexit
- Lloyd Blankfein, chief executive of Goldman Sachs, warns that the City of London “will stall” and see its position as a global financial centre eroded as a result of UK’s decision to leave the European Union.
His bank, which has had a London presence since 1970 and currently employs 6,000 in the capital, has already started to shift hundreds of workers out of London to Frankfurt, Paris and Warsaw as Brexit looms. There have been rumblings that Goldman’s London-based staff will eventually dwindle to 3,000 as a result of last June’s referendum result.