Tue 16 September 2008, Financial Times

Regions stand to gain from shake-out

By Andrew Bounds, Andrew Bolger, Chris Tighe and Jonathan Guthrie
Goldman Sachs , the investment bank, is considering opening a large office in Manchester or Leeds in a sign that the UK regions could benefit from big banks cutting costs as world financial turmoil intensifies. However, the positive news is balanced by expectations that levels of business will fall in the UK’s satellite financial centres, mirroring the slump in the City.