Goldman Sachs CEO warns the UK not to take 'the hard way' on Brexit because it will impact how the bank invests
- Goldman Sachs CEO David Solomon says a "difficult" Brexit will damage Goldman's future in the UK.
- "If this is resolved in a difficult way, or in a hard way, I do think over time it will have an impact on where we invest and where we put people," he told the BBC in Davos.
Goldman Sachs CEO David Solomon issued a warning for UK government leaders, telling the BBC that a "difficult" Brexit will damage its future in the UK.
"If this is resolved in a difficult way, or in a hard way, I do think over time it will have an impact on where we invest and where we put people," Solomon told the BBC on the sidelines of the World Economic Forum in Davos, Switzerland.
"All these things ultimately have an impact on the investment decisions, on the business decisions that all of us as business leaders make and so all of this, over time I think, will have an impact depending on how this is resolved."
Goldman employs about 6,000 workers in the UK. Its headquarters is in the City of London, otherwise known as the Square Mile.
"Headcount in the UK over the last couple years has not gone down, but it hadn't gone up either," Solomon said. "We have added headcount on the continent."
Solomon also mentioned Brexit to CNBC at Davos, telling the network that a combination of negative factors including the government shutdown, the US-China trade war, and Brexit negotiations will hurt financial markets and slow down the US economy.
Solomon added that the chances of a recession in 2019 are still "relatively low."