The American multinational investment bank and financial services company Goldman Sachs, has officially given its commitment to London despite protestations that Brexit would result in a relocation.
The bank intends to fill all but half a floor of the 10-storey “groundscraper” on Farringdon Road when its bankers move in from three older properties nearby next year.
Doubts had been raised about Goldman Sachs’s commitment to the project and to the UK more generally – where it currently has 6,500 staff – after Lloyd Blankfein, the bank’s outgoing chief, took repeated pot shots at Brexit on Twitter over the past year.
These included a picture of the 1.1m sq ft London scheme last autumn with a caption saying he hoped the bank would fill it “but so much outside our control #Brexit”.
The bank deliberately designed the building flexibly to allow for multiple tenants if it changed its mind about fully occupying it. However, it is understood that the Bank will be the only occupant of the building.
The bank is understood to be relocating up to 500 staff to hubs in Paris, Frankfurt and Dublin. But it will also hire an additional 150 staff to mitigate the move.
The bank is currently in the process of selling and leasing back the London office building ahead of moving in, with bids reportedly around the £1.3bn mark. At 1.1m sq ft spread across wide floor plates, Goldman Sachs’s building will have more space than some City towers, such as the “Cheesegrater” building at 122 Leadenhall Street.