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The Financial Times reports that Goldman Sachs plans to more than treble the size of its Swedish office to use the country’s financial technology expertise to bolster its European equities trading, as well as find new homes for bankers ahead of Brexit. The US investment bank has signed a lease for a new office in central Stockholm, which it will move into early next year, increasing its headcount in the country from about 30 to 100 employees. Breakit reports that the new office will be located at Grand Hotel.
Most of the new staff will be technology specialists, which the bank has started recruiting to build on its acquisition two years ago of Pantor Engineering, a Stockholm-based trading technology specialist. Goldman executives say the atmosphere in its Stockholm office is more like a fintech start-up than an investment bank: there is a relaxed dress code and shoes are swapped for slippers at the door.
Goldman also plans to move some client-facing investment bankers from London to Stockholm as it prepares for potential disruption from Brexit