One of the leading investment bankers in the World, Goldman Sachs, has announced setting up its second office in India in Hyderabad in October last year. After the existing Bengaluru office, the new office was supposed to commence in the second half of 2021.
But then, with the COVID second wave, Goldman Sachs Hyderabad operations commenced remotely in March. The new facility was inaugurated by the Telangana IT and Industries Minister, KT Rama Rao. The new office will hire over 2,000 employees by 2023.
Currently, 250 employees are working in this office and by the end of the year, it will grow to 800 employees of which about 70 percent employees will be new hires. By 2023, the size of the Hyderabad office could reach as many as 2,500 employees, the company representatives say. The new office will host functions across engineering, finance, human capital management, and support for consumer banking, and specialize in digital banking, artificial intelligence, and machine learning areas.