Goldman Sachs reportedly to move London operations to Frankfurt

US investment bank Goldman Sachs is reported to be considering the move of some of its London operations to the German city of Frankfurt, over fears that Britain will lose access to the free market when Brexit becomes reality.

According to Reuters, the company is mulling over the move as it seeks to regain the passporting rights which could presumably be lost when the UK leaves the bloc as expected within the next two years.

Goldman would make the move with the view of moving towards supervision by the European Central Bank, which is headquartered in Frankfurt.

"Moving under ECB supervision in Frankfurt is one of the options the bank is considering," the unnmaed source from Reuters said.

If the transfer to go ahead, it would represent a major blow for the City's post-Brexit prospects, although the recent High Court ruling which required parliament scrutiny on the invoking of Article 50 has put Brexit in doubt.

A spokesperson for Goldman Sachs did not comment explicitly on the possible move, saying that there were several uncertainties which have arisen after the result of the referendum in June.

"We continue to work through all possible implications of the Brexit vote," the company said. "We have not taken any decisions as to what our eventual response will be."