Goldman Sachs Set to Move Into Credit Suisse’s Milan Office

(Bloomberg) — Goldman Sachs Group Inc. is set to move into the landmark Milan office that was Credit Suisse Group AG’s headquarters in Italy, underscoring the US bank’s growing footprint in the country.

The Wall Street firm is finalizing a deal to relocate its Milan headquarters to the nearby Via Santa Margherita building, according to people with knowledge of the matter. Goldman would take over two of the three floors occupied by the Swiss bank, the people said asking to not be named discussing the deal.

The property, owned by Coima, offers around 2,000 square meters (23,681 square feet) per floor in the heart of Milan’s financial district. The relocation would give the bank 800 square meters more than it has now as it looks to expand its conferencing and client facilities, according to one of the people.

The bank is planning to move into the new premises at the beginning of next year after a refit, some of the people said. It currently employs more than 100 people in Milan.

Credit Suisse had called Santa Margherita home since the mid-2000s. Since its rescue in 2023, staff have been relocating to UBS Group AG’s headquarters in Milan as part of the Swiss firm’s plan to consolidate its former rival’s operations.

A spokesperson for Goldman confirmed the move without commenting further. Spokespeople for UBS and Coima declined to comment.

Goldman has been steadily increasing its advisory and investment banking activity in Italy, working on a string of high profile deals and deepening relationships with corporate clients and financial sponsors. A larger headquarters provides it with room to grow, host clients and cement its role as one of the leading foreign investment banks operating in Italy.

–With assistance from Jack Sidders and Thomas Hall.

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