Goldman Sachs to Move More Assets to Europe if UK Quits EU

US investment firm Goldman Sachs will relocate more of its resources to Europe and the seat of the European Central Bank in Frankfurt if Britons vote to quit the European Union, the company’s European division chief told German media in an interview due to be published Sunday.

MOSCOW (Sputnik) — Britons will go to the polls by the end of 2017 to vote on the United Kingdom's membership in the European Union.

"It’s no secret that in the unlikely event of a Brexit we will certainly shift more resources to Frankfurt," Richard Gnodde told the Frankfurter Allgemeine Sonntagszeitung.

Gnodde told the German outlet his company would not pull out of Britain completely, "but we will certainly boost our presence in other locations inside the EU," he added.

The senior executive warned London that it was in its own interest to stay in the 28-nation economic bloc. Anything else would damage the country, the broader European economy and finance, he stressed.

In June, a number of London’s largest companies told the Sunday Times they had already set up committees to prepare for relocation from the UK capital, should British voters opt out of the European Union.