As part of its expansion plans in India, Goldman Sachs, the American investment bank, has opened its offices in Hyderabad. Its operations in Hyderabad started remotely in March this year. It already has a workforce of 250 in the city, and hopes to increase the headcount to 800 soon. About 70 per cent of the employee will be new recruits.
In the coming few years, the Bank hopes to take the headcount up to 2,500 employees. The new office in Hyderabad will be an innovation hub for the Bank’s businesses.
IT and Industries Minister KT Rama Rao inaugurated the office, which is located at Salarpuria Sattva Knowledge City. Rao acknowledged the impressive manner in which the multinational has been focussing on ensuring an inclusive work environment and the way in which it has lent support to the communities in not just Telangana but across the country.
The investment bank is already operating successfully in Bengaluru. Hyderabad offered an ideal ecosystem and infrastructure for it to consider it for expansion.
The city is already proving to be a destination of choice for the banking and financial services industry (BFSI) in the country, given the fact that it has managed to set up a several global capability centres attracting ace quality talent from across the length and breadth of the country. The BFSI space employs close to 1.8 lakh people.