Yet another global player has selected Hyderabad to expand its presence in India. The Goldman Sachs group, a leading global investment banking, securities and investment management firm that provides a wide range of financial services to corporations, financial institutions, governments and individuals is setting its foot in Hyderabad.
The Goldman Sachs has identified Hyderabad as a new location for its global shared services footprint in India. This is a part of the firm’s India location strategy to diversify its geographic presence and enhance talent reach, to support the growing global businesses and enhance long-term competitiveness.
The new Hyderabad office will be the second location for Goldman Sachs Services in India, and will complement the Bengaluru office footprint in terms of both the execution and support that it will provide to the firm’s businesses globally.
The announcement came after representatives of Goldman Sachs interacted with IT and Industries Minister KT Rama Rao and explained their plans to come to Hyderabad over a video conference. The Minister responded positively and stated that the government will provide complete support to the firm in their future ventures.
The new office here is expected to commence in the second half of 2021 with about 500 employees, and has potential for future growth. It will leverage the expertise of the existing leadership in Bengaluru office, while investing in a strong pool of competitive world class local talent. Key criteria for the new office location included the availability of commercial real estate and housing for employees, a diverse talent pool, quality infrastructure in the city, and support and commitment from the local government.
It’s Bengaluru office, at outer ring road, with over half of its 6,000 employees as engineers, will continue to be a major location for Goldman Sachs in India.
