BP Adams Releases Statement On Report Of Possible Goldman Sachs Move Out Of New York City

Press release from the Office of the Brooklyn Borough President:

December 8 2020

“Yesterday’s report that Goldman Sachs is looking to move its asset management division to Florida is extremely disappointing, if true. New York grew Goldman Sachs into the international behemoth that it is today with our wealth of talent, tax breaks, and the exciting energy only New Yorkers can provide. Goldman should be asking how it can help our city during this unprecedented crisis, not turning its back on us.

“Today I renew my call for the Banking Commission and the City Comptroller to look more closely at the banks the City does business with, and evaluate them as civic partners in addition to their performance as vendors. New York City — with its billions of dollars a year in bank deposits, bond issues, and other financial business — is a massive client, and we must use our leverage where possible to force better behavior by big banks.

“I also would like to send a message directly to Goldman Sachs: If you move jobs out of New York, you will regret it. Companies like JP Morgan and Facebook are committing to New York for the long haul because they know that there is no other place on Earth like our city for attracting talent and doing business. When New York is all the way back — and we will be, soon — your competitors’ employees will be eating at the best restaurants, enjoying the most celebrated new performances and exhibitions, and loving life in the greatest city in the world.”

This press release was produced by the Office of the Brooklyn Borough President. The views expressed are the author's own.