Goldman Sachs to open second India office in Hyderabad; offer 500 jobs

Hyderabad has been listed by investment banking company Goldman Sachs as a new location for its global shared services footprint in India.

A statement from the state government quoted the company on Thursday, "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 execution and support that it will provide to the firm's businesses globally".

In a video conference, Goldman Sachs representatives interacted with KT Rama Rao, the Telangana Minister for IT and Industries, and clarified their plans to come to the city, the release said.

The new office, with about 500 staff, is scheduled to become operational in the second half of 2021 and has the potential for future development.

It will leverage the experience of the current Bengaluru office leadership, while investing in a deep pool of successful local talent of the world class, it said.

Goldman Sachs said the availability of commercial real estate and housing for workers, a diverse talent pool, quality infrastructure in the area, and funding and engagement from the state government were key requirements for the new office site.

KTR claimed that in their future projects, the release added, the government would provide the firm with full support.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.