Goldman and Morgan Stanley quash relocation claims

Goldman Sachs and Morgan Stanley have moved to quash rumours that they are drawing up plans to move their London banking operations to Frankfurt in the wake of Britain voting to leave the European Union.

Responding to reports that the US banking giants had pre-let office space in Germany's financial capital, Goldman Sachs said: "We have not made any changes to our real estate requirements in Frankfurt as a result of the referendum result.

"As we have already communicated to our employees, there is no immediate change to the way we conduct our business or where we conduct our business."

Similarly, Morgan Stanley said it "does not have pre-let office space in Frankfurt".

Morgan Stanley employs 5,000 in the UK while Goldman has 6,500 staff.



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