American multinational banking and financial powerhouse, Goldman Sachs, is expanding its operations in Hyderabad, India. The company plans to open a new eight-floor office and increase its employee count to 3,000. This decision was made after a meeting between IT and Industries Minister KT Rama Rao and Goldman Sachs Chairman and CEO David M. Solomon in New York.
Goldman Sachs’ investment in Hyderabad will benefit the BFSI (Banking, Financial Services, and Insurance) sector in the city. The company recognizes Hyderabad’s talented workforce and the pro-business environment created by the Telangana government.
Currently, Goldman Sachs has 1,000 employees in their Hyderabad office. With their expansion plan, they will hire an additional 2,000 professionals, bringing the total number of employees to 3,000. The new office will focus on consumer banking services, business analytics, platform engineering, and emerging technologies like Artificial Intelligence and Machine Learning.
KT Rama Rao expressed his appreciation for Goldman Sachs’ decision to expand in Hyderabad. He believes that this expansion will strengthen the city’s position as a BFSI hub and create employment opportunities for professionals in the region.
Goldman Sachs has been a part of Hyderabad’s business landscape since July 2021 when they opened a new office. CEO David M. Solomon sees the new office as an innovation hub that will enhance Goldman Sachs’ global reputation. He credits Hyderabad’s strong BFSI ecosystem, progressive government policies, and investment-friendly environment for their decision to expand.
Goldman Sachs’ expanded presence in Hyderabad reflects the city’s potential and talent pool. This move will contribute to the growth of the BFSI sector and further establish Hyderabad as a prominent financial hub.
