Goldman Sachs moves staff from NY

GOLDMAN Sachs is the latest big investment bank to move part of its operations out of the 11 September disaster zone in New York. It will relocate its equities business to New Jersey within the next few years 'to reduce the firm's concentration in Lower Manhattan'.

The district's vacancy rate has shot up sharply since the terrorist attacks despite city efforts to retain big-name employers and encourage those whose offices were destroyed to find new space in the area.

Several other big firms, including Morgan Stanley and Lehman Brothers, have moved employees from New York's financial district surrounding Wall Street. Goldman is retaining its headquarters in Lower Manhattan.