(Reuters) – Goldman Sachs Group Inc is shifting some of its Moscow-based employees to Dubai as its staff seeks to work from a different location following Russia’s invasion of Ukraine, Bloomberg News reported on Sunday.
The move is not intended to be permanent as of now, the report added.
A one-time Goldman Sachs banker Georgy Egorov wrote an open letter to the company’s CEO David Solomon this week calling on the Wall Street investment bank to exit Russia and re-locate staff from Moscow to stay “on the right side of history.”
Goldman Sachs declined to comment on the report when contacted by Reuters.
Earlier this week, Goldman Sachs Asset Management reduced its Russian exposure in its GQG international equity fund to about $222 million, down from over $1.7 billion six months ago.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Chris Reese)