New York headquartered investment bank and financial services giant Goldman Sachs has announced the opening of its new office in India.
Located in Salarpuria Sattva Knowledge City area of Hyderabad, the office expands the firm’s global centre for engineering and business innovation.
It spans across 1.59 lakh square feet and is slated to have divisions across engineering, finance, human capital management and consumer banking.
“Our Hyderabad office will be a centre of excellence for consumer banking services, business analytics and platform engineering, including application of emerging technologies such as Artificial Intelligence and Machine Learning to augment our businesses,” Gunjan Samtani, who heads the entity in India, said in a statement.
The facility commenced operations in March 2021 with about 250 employees – new hires and relocated ones – and will increase the workforce to 800 by the end of this year.
“...Hyderabad will serve as a crucial innovation hub for a wide range of our businesses and enhance our reputation as a global firm. I’m excited to continue our growth in India, and the abundance of talent in Hyderabad made it the obvious choice for our next location,” David Michael Solomon, the CEO of Goldman Sachs, said.
By 2023, the workforce at the new office is expected to reach 2,500, the firm said, noting that campus is equipped with state-of-the-art technology, height adjustable desks, inclusive spaces such as contemplation room, ablution facility, lactation rooms.
It also includes collaboration spaces on each floor
as well as crèche facilities, banking facilities as well as food and beverage outlets, it added.
Serving Indian clients since the early 1990s, Goldman Sachs established an onshore presence in Mumbai in 2006.
Today, the firm, founded in 1869, serves leading corporate and institutional clients through corporate finance (investment banking), equity sales and trading and fixed income securities businesses, as well as macro-economic and investment research.
Goldman Sachs is also an active investor in India and has deployed more than $3.6 billion in capital since 2006.