Post-Brexit Europe: A Period of Uncertainty and Opportunity

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 26 April 2017

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

The two-year negotiation process of Brexit has officially commenced amidst Europe's year of elections, meaning the broader sense of uncertainty that has underpinned much of the region's business operations will continue for the foreseeable future. Richard Gnodde, vice chairman of Goldman Sachs and chief executive officer of Goldman Sachs International, discusses how companies - Goldman Sachs included - are adapting to the political landscape. This podcast was recorded on April 24, 2017. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed. This recording should not be relied upon to evaluate any potential transaction. Goldman Sachs is not giving investment advice by means of this recording, and this recording does not establish a client relationship with Goldman Sachs. Copyright 2017 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is Exchangers at Goldman Sachs where we discuss developments currently shaping markets, industries
0:13.4	in the global economy. I'm Jake Seaward, Global Head of Corporate Communications here
0:17.2	at Goldman Sachs. Brexit poses a host of challenges for Europe of course, but the
0:22.1	continent is also facing sluggish economic growth,
0:25.2	rising nationalists and populist parties, and questions about the future of the single currency
0:29.5	market.
0:30.5	My guest today, Richard Nada, is Vice Chairman of Goldman Sachs and heads up our European operations and thus he is tasked with dealing with all of these issues plus much more.
0:40.0	Richard's here to discuss what it means to do business today in Europe and around the world.
0:44.8	Welcome Richard.
0:45.8	Right here.
0:46.8	So obviously a lot going on today in Europe.
0:49.6	How have you approached your responsibilities as head of Goldman Sachs in the region, given the seemingly
0:55.0	constant flow of news and events there?
0:58.8	The most important thing is to keep your eye on the ball and keep your eye on the long term.
1:02.1	I think we've all seen throughout
1:04.2	our careers that as you look forward they're always what seemed to be insurmountable issues just
1:09.2	in front of you and of course you work through those in a systematic way and suddenly they're in the
1:13.5	review mirror. So it really is a question of keeping your eye on the long term and for
1:17.7	us the long term is really straightforward. Our role and what we do around the world
1:22.0	but what we do in Europe is to finance the economy, finance companies, facilitate growth,
1:27.0	create employment. And when you look at Europe today, it's an economy in size that rivals the US. It's a very significant economy.
1:35.6	It's a source of financing historically has been more bank-led lending, less capital markets.
	...

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