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Goldman Sachs plans to expand in Hyderabad

Goldman Sachs is an investment banking firm that has its headquarters in New York. It offers services in securities, investment management, prime brokerage, asset management, and securities underwriting. Recently, they confirmed that they are going to expand their operations to Hyderabad and start operations from 2021.

Details about the Goldman Sachs expansion

The company operations in India is only limited to Bangalore at the moment. But, very soon their expansion to Hyderabad will mean further growth for the firm. The official statements from the company also confirmed that they would be starting work in Hyderbad from mind 2021. And their office will have around 500 Employees.

 Goldman Sachs' Bangalore hub

Image Source: Financial Times

They also said that they would match the quality of service that they provide in Bangalore. Taking steps for starting work as early as possible, the company’s representatives have talked with Telangana’s IT and investments minister KT Rama Rao regarding the same.

This new expansion shows the company’s wish to multiply in India. Because the company set up the Bengaluru office only last year, it took around 250 million dollars to set up the Bengaluru hub and over 6000 employees. The Bengaluru facility has even before the 2nd largest office of the company after the New York headquarters.

Goals of the company

At present, the company’s prime goal is to increase its reach by diversifying geological locations where it offers its services. The plans from the company also said that they are planning to “to diversify its geographic presence and enhance talent reach, to support the growing global businesses and enhance long-term competitiveness.”

The company also said in a statement: “The new centre will leverage the expertise of the existing leadership in the 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”.

With the rapid growth of Goldman Sachs in India, we might soon see the investment firm expand to more cities all over the country. The COVID pandemic has actually slowed down the process. Otherwise, we could have seen the company expanding even sooner.

What are your thoughts on the investment firm expanding in Hyderabad? Do let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

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