GOLDMAN SACHS has said it has not “chosen Dublin” as its new home of European asset management but that it is “considering” its post-Brexit options.
The Financial Times is reporting today that 20 workers will be relocated from Goldman Sachs’ European asset management business from the UK to Dublin.
Goldman Sachs Asset Management has over 400 employees in the UK and, in a statement today, the company said it is looking at what changes need to be made.
Earlier this year, the firm said it would handle its European business from new hubs in both Paris and Frankfurt.
US bank JP Morgan is buying a landmark office building in the Irish capital in a significant boost for the city.
It already has 500 staff in Dublin but will double that in a 22-storey yet-to-be-built tower block on the south of the river Liffey.
Bank of America Merrill Lynch, which already has a presence in Dublin, has also spoken of expanding in the city, while Goldman Sachs is to start moving hundreds of staff out of London before a Brexit deal is struck, the bank’s European boss has confirmed.
The Central Bank of Ireland has been criticized for being reluctant in recruiting banking firms to Ireland following the collapse of the banking system and Ireland's subsequent bailout.
