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Business EconomyPosted at: Oct 1 2020 10:26PM


Goldman Sachs to set up its its office in Hyderabad

Hyderabad, Oct 1 (UNI) 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 company said in an official statement on Thursday during an interaction with Telangana Minister for IT, K T Rama Rao over a video conference.
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 new office is expected to commence in the second half of 2021 with about 500 employees, and has potential for future growth, it said.
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.
The Bengaluru Office, at 150 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.
Minister KTR responded positively and stated that the government will provide complete support to the firm in their future ventures.
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