The Sunday Times has reported that Wall Street giant Goldman Sachs will move a third of its workforce outside of London to rival European cities if the UK government decides to leave the single market and adopt a ‘hard Brexit’ approach. The current EU passporting regime, which allows US companies based in London to trade freely across the economic area, faces much uncertainty in the upcoming months. Chancellor Phillip Hammond met bankers in New York last week in an effort to convince Wall Street that London is still an attractive place to invest. However, this most recent threat will increase fears that a ‘hard Brexit’ could push multinational companies to cut investment in Britain.
The full article can be read here – http://www.thetimes.co.uk/edition/business/hard-brexit-to-cost-2-000-goldman-jobs-9bt5c6vk9