Goldman Sachs leaves 'skeleton team' in London as it relocates top brass to Europe

Dirk Lievens, who is head of Goldman's financial institutions group for Europe, the Middle East and Africa, has been moved to Paris to be closer to the company's continental European clients, including banks and insurers.

He will join several other members of Goldman's financial institutions group who have moved to Paris, while a skeleton staff remains in London to serve UK and Middle Eastern banks, the people familiar with the arrangements said.

Since the UK voted to leave the EU in 2016, Goldman - alongside a number of other financial companies - has set about relocating dealmaking teams focused on different industries from London to continental European cities.

Paris has emerged as the biggest winner, with Wall Street banks such as JPMorgan and Bank of America choosing the French capital for their main post-Brexit European centre.

Milan has also seen considerable activity, with Goldman relocating several investment bankers advising natural resources companies to the Italian city, while Frankfurt in Germany has attracted bankers dealing with car businesses.

Goldman also recently opened an office in Munich for its dealmaking team focused on European technology, media and telecoms companies, co-headed by Macario Prieto.

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