Bloomberg - Top firms said in Frankfurt hiring drive

Goldman Sachs, JPMorgan Chase and Morgan Stanley are on a hiring drive in Frankfurt as global investment banks race to establish new headquarters inside the European Union in time for Brexit.

Bloomberg News reports that the biggest Wall Street firms have recently started advertising for scores of staff ranging from risk managers to compliance officers and information-technology specialists, according to internet listings. They need their offices to be up and running by April 2019, headhunters and people familiar with their firm’s hiring plans said.

Banks want to fill as many positions as they can locally to limit the disruption caused by relocating London-based employees and their families, said the people, who asked not to be identified as the plans aren’t public. With only about 14 months to go until Britain formally departs the EU, banks have reached what one executive called the point of no return, and have decided they need to trigger their contingency plans.

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