Today’s News 

Goldman Sachs has recently transferred its top investment banker for European financial companies from London to Paris as part of its ongoing post-Brexit reorganization efforts.  

Dirk Lievens, head of Goldman’s financial institutions group for Europe, the Middle East, and Africa, relocated to Paris last month to better serve the bank’s continental European clients, including banks and insurers. This move aligns with Goldman’s broader strategy of relocating dealmaking teams focused on various industries from London to other European cities since the U.K.’s decision to leave the EU in 2016. 

Despite earlier concerns about mass staff relocations from London, the actual numbers have been lower than anticipated, with many U.S. companies gradually moving teams from London to mainland Europe. Paris has emerged as a key destination for Wall Street banks, including JPMorgan and Bank of America, establishing it as a prominent post-Brexit European center. 

Amidst these changes, Goldman Sachs’ European investment banking operations have faced internal challenges, including recent turmoil over appointments to a new senior internal committee, resulting in the departure of Garcia, then co-head of European investment banking. 

In addition to Lievens’ relocation, Goldman has also shifted investment bankers advising natural resources companies to Milan, while bankers dealing with car businesses now operate from its Frankfurt office. Furthermore, the bank has expanded its presence by opening a new office in Munich, focusing on European technology, media, and telecoms companies. 

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