Goldman Sachs opened a new state-of-the-art office in Hyderabad to function as a centre of excellence for the firm’s client onboarding efforts and will house platform engineering and global Enterprise Partnerships.
“This will contribute to our existing vibrant ecosystem of global companies and start-ups here and create global opportunities for the local talent,’‘ K. T. Rama Rao, Minister for IT, Industries, Municipal Administration and Urban Development, Govt. of Telangana, said at the inauguration of the office.
“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,’‘ Richard Gnodde, chief executive officer, Goldman Sachs International said.
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According to Gunjan Samtani, Country Head, Goldman Sachs Services India and Global Chief Operating Officer of Engineering at Goldman Sachs, the new Hyderabad office “exemplifies’‘ the firm’s priorities of collaboration, innovation, sustainability and cutting-edge technology, and its commitment to enable its people to innovate locally and collaborate globally.
The new office comprises a 3.51 lakh square feet nine-story tower located at Salarpuria Sattva Knowledge City and has the capacity to accommodate approximately 2,500 professionals. Collectively with the Bengaluru office, today India has the largest presence of Goldman Sachs globally outside its New York headquarters, according to a release.
The firm’s Hyderabad operations commenced 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.
The office comprises new hires and internal transfers from Bengaluru to ensure efficient knowledge transfer, culture orientation and to implement the firm’s talent seeding strategy. Currently, there are over 1,500 professionals in Hyderabad of which over 75 percent are new hires.