Goldman Sachs has said it would move much of its European business out of London if Britain leaves the European Union. The warning from the world’s most powerful investment bank comes as political pressure for Britain to leave the EU mounts. David Cameron has committed to holding a referendum on Britain’s membership if the Conservatives win the next election and some Tory MPs have been agitating for an early vote on the matter. Michael Sherwood, co-chief executive of Goldman Sachs International, said: “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.” [Guardian via Heidi Moore]

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Comments (9)

  1. Posted by Flo | December 4, 2013 at 2:59 PM

    Did a wave from the Atlantic take out NYC and nobody told me? I read Dealbreaker for the comments, not the articles.

  2. Posted by guest | December 4, 2013 at 3:04 PM

    cool story.

  3. Posted by guest | December 4, 2013 at 3:04 PM

    Are you under the impression we care?

  4. Posted by guest | December 4, 2013 at 3:05 PM

    Winter is coming.

    -l. blanks

  5. Posted by Flo | December 4, 2013 at 3:48 PM

    Now I'm hoping for a wave. Assholes.

  6. Posted by Rebecca M. | December 4, 2013 at 4:03 PM

    I will be the one to make her.

    -P. North

  7. Posted by guest | December 4, 2013 at 4:04 PM

    what?

  8. Posted by Co-chief? | December 4, 2013 at 4:58 PM

    Great call – paying the French 20bps/roundtrip to make markets in Paris.

  9. Posted by Guest | December 4, 2013 at 8:28 PM

    Plus employees paying French income tax rates.