Goldman Sachs' Hedge Fund Is Doing A Super Hard Brexit

Lloyd tells London hedgies "You don't have to go to Frankfurt, but you can't stay here."
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Running a post-Dodd-Frank hedge fund has been something of a pain in the old ass for Goldman Sachs, especially a fund that keep getting crushed on value investing plays that aren't working out very well.

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But Lloyd Blankfein and his new(ish) leadership team are apparently drawing the line at running any operations for said fund out of a post-European London...

Goldman Sachs Group Inc's hedge fund Goldman Sachs Investment Partners (GSIP), which was one of the largest-ever hedge fund launches in history, is closing its London operations and shifting staff members to New York, four sources told Reuters.
About eight staff members who made up the London team were recently told to move to Goldman's Battery Park City headquarters or find a new job internally, said the sources.

As reported by Reuters, the guy running the fund from London - Nick Advani - has decided he'd be happier in NYC, so moving everyone else back makes some sense, but it's hard to see this move being undertaken with such drastic swiftness had the Brexit vote gone the other way. That opinion is supported by the fact that Goldman is also reportedly looking to move about 1,000 employees out of the UK in response to the nation severing its ties with the Eurozone.

Exclusive: Goldman Sachs hedge fund folding London operations, shifting staff to U.S. - sources [Reuters]

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