Global investment banking firm Goldman Sachs is looking at an aggressive expansion plan in Hyderabad, over a year after the formal opening of its global capability centre (GCC) in the city and is likely to close next year with 450,000 sq ft office space and a headcount of 2,500. “We started last year in June with 45,000 sq ft... will have a total of 450,000 sq ft by third quarter of 2023,” Chief Administrative Officer of Goldman Sachs Services India and Head of Hyderabad Office, Ravi Krishnan told The Hindu.
The company wants to be prepared for onboarding more talent, as demand grows for technology development and human capital management services provided by the GCC. Krishnan listed an attractive talent pool, great infrastructure and a supportive government in Telangana as the main reasons behind the expansion. He added that the company consists of 1300 plus staff now, which is made up of 900 employees and 400 contingent workers, and it was on target to reach 2,500 headcount by 2023 end.
Aiming to hire more engineering talent, the company is banking on relationships with leading institutions in Hyderabad such as Indian Institute of Technology, Jawaharlal Nehru Technological University, International Institute of Information Technology, and Osmania University. The company is also hiring through hackathons besides having discussions with a few undergraduate colleges.
Goldman Sachs said it has diversified its global centre for engineering and business innovation in India and the facility is likely to emerge as a centre of excellence for consumer banking services, business analytics and platform engineering, including emerging technologies such as Artificial Intelligence and Machine Learning.