Goldman Sachs sought to reassure London-based staff over potential disruption to its business as Britain prepares to leave the European Union, in a voicemail to staff sent by the Wall Street firm's Europe CEO.
British Prime Minister Theresa May will trigger formal EU divorce proceedings on Wednesday, launching two years of negotiations that will shape the future of Britain and Europe as well as London's place as a global financial center.
The move will also mark the point when investment banks, whose priority will be to ensure they can continue servicing their clients across Europe after March 29, 2019, begin taking concrete steps to prepare for Britain being outside the bloc.
Those steps could involve moving London-based staff to outposts on the continent or paying them off and hiring employees locally.
Richard Gnodde, CEO of the European arm of Goldman Sachs, said last week it would begin by moving hundreds of people out of London as part of its "contingency plans" for the first phase.