Industries and IT Minister K.T. Rama Rao and members of Goldman Sachs leadership at the opening of the firm’s new office in Hyderabad on October 5, 2023.
| Photo Credit: Special Arrangement
Global investment banking, securities and investment management firm Goldman Sachs expanded its footprint in Hyderabad with the opening of a 3.51 lakh square feet office, across nine-storey, on October 5.
The facility, to accommodate about 2,500 employees, will serve as a centre of excellence for the firm’s client onboarding efforts and house platform engineering and global enterprise partnerships, Goldman Sachs said after Industries and IT Minister K.T.Rama Rao inaugurated the facility in the presence of members of its senior leadership.
Hyderabad operations of the firm began in March 2021 with functions across engineering, finance, human capital management and consumer business services as well as opportunities across emerging technologies such as cloud computing, artificial intelligence, and machine learning. Currently, there are over 1,500 professionals in Hyderabad of which over 75% are new hires – internal transfers from its office in Bengaluru also happened.
Collectively with the Bengaluru office, today India has the largest presence – 9,000 professionals – of Goldman Sachs globally outside its New York headquarters, the firm said.
Goldman Sachs International CEO Richard Gnodde said “our growth story in India is compelling and enabled by the country’s extraordinary talent. Over the last two decades, Bengaluru and Hyderabad have become integral to the firm’s global activities. Our new Hyderabad office is a testament to the firm’s continued commitment to Indian talent, which is world-class.”
Opening the facility, the Minister said the new long-term office reflects Telangana’s holistic initiatives to engage, collaborate and drive multinational firms to setup in Hyderabad. “This will contribute to our existing vibrant ecosystem of global companies and startups here and create global opportunities for the local talent,” he said.
“In just two years, our teams in Hyderabad have established deep competencies driving enhanced client experience and revenue enablement for the firm, including through redesigning our engineering platforms and talent engagement processes,” said Gunjan Samtani, country head of Goldman Sachs Services India and global COO -Engineering at Goldman Sachs.
