Goldman Sachs has identified Hyderabad as a new location for its global shared services footprint in India and will set up an office in the city with about 500 employees.
The move is a part of its India location strategy to diversify geographic presence and enhance talent reach, to support the growing global businesses and enhance long-term competitiveness.
The office here will be the second location for Goldman Sachs Services in India. The facility will complement its Bengaluru office footprint in terms of both the execution and support that it will provide to the investment and financial services major’s businesses globally.
The Hyderabad office is expected to commence in the second half of 2021 with about 500 employees. It has potential for future growth and leverage the expertise of the existing leadership in Bengaluru office, while investing in a strong pool of competitive world class local talent, a Goldman Sachs statement shared by IT and Industries Minister K.T.Rama Rao’s office said.
The statement followed a video conference the Goldman Sachs India leadership led by its India Chairman Sanjoy Chatterjee had with the Minister in which the top level executives explained plans for Hyderabad.
Mr. Rao responded positively and assured the government will provide complete support to the firm in its future ventures.
The key criteria, according to the Goldman Sachs release, for the new office location included 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. Its Bengaluru office, at 150 Outer Ring Road, with over half of its 6,000 employees engineers, will continue to be a major location for Goldman Sachs in India.