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Thursday 11 June 2020 10:25 am

Goldman Sachs to ‘reopen UK base on 15 June’ after lockdown eases

By: Alex Daniel

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Malaysian prosecutors today dropped criminal charges against three Goldman Sachs units accused of misleading investors over $6.5bn (£4.9bn) in bond sales they helped organise for scandal-hit state fund 1MDB.

Goldman Sachs is thought to be planning to reopen its mammoth London headquarters again on 15 June.

The investment banking giant reportedly sent an email to staff, telling them that the £1bn space was being prepared for “a safe and effective transition back to office when the time is right.”

In the email, seen by the Evening Standard, boss Richard Gnodde told staff: “This follows many of our offices in continental Europe safely opening over the last few weeks for our people, including Frankfurt, Madrid, Milan, Paris and Warsaw.”

“Our approach continues to be firmly guided by our people-first principle – your health and safety and that of your families remain our priority above all else.”

Others in the City will likely watch the actions of companies like Goldman closely as they prepare their own plans to return to offices.

Gnodde said the return to work would be voluntary, and that it would be phased, with “split team rotation” in the office. 

This echoes the approach that many banks in the City took before workers were forced to go home by the imposition of lockdown.

“Everyone is encouraged to adopt an approach that works for them and their own personal circumstances which might make a return to office challenging at this time,” he said.

Team leaders would work out staffing patterns to make sure occupancy levels increase only gradually, and “in a controlled way”.

Morning Wire has contacted Goldman Sachs for comment.

Read more

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