Bowles: Goldman Sachs may reconsider London as a hub if UK quits EU

Sharon Bowles MEPLiberal Democrat MEP Sharon Bowles today warned of dramatic job losses in the financial sector if the UK were to leave the EU, after co-CEO of Goldman Sachs Michael Sherwood said his company would be likely to ‘drastically reduce’ its activities in London in case of an EU exit.

Speaking to German newspaper Frankfurte Allgemeine Zeitung, Mr Sherwood warned:

“In all likelihood we would transfer a substantial part of our European business from London to a Eurozone location – the most obvious contenders being Paris and Frankfurt.”

Goldman Sachs currently employs around 5500 people in London compared to just 200 in Frankfurt.

Commenting, Chair of the European Parliament Economic and Monetary Affairs Committee Sharon Bowles said: Continue reading