 "Goldman Sachs plans expansion in India, opens new GCC hub in Hyderabad")
As part of its expansion in India, American investment bank Goldman Sachs announced the launch of a new global capability centre (GCC) in Hyderabad on Thursday. The new centre, with space for approximately 2,500 professionals, will serve as a centre of excellence for client onboarding activities and for establishing enterprise partnerships.
Since 2006, Goldman Sachs has invested over $7 billion in India. The bank inaugurated its Bengaluru office in 2004. Today, combined with the Bengaluru facility, India stands as Goldman Sachs' largest talent hub, boasting over 9,000 employees, second only to its New York headquarters.
The centre in Hyderabad includes both new recruits and transfers from Bengaluru. This mix ensures an efficient transfer of knowledge, familiarises newcomers with the company culture, and supports the firm's strategy for spreading talent. Currently, over 1,500 professionals are based in Hyderabad, with more than 75 per cent being new recruits.
The firm began its operations in Hyderabad in March 2021, covering functions across engineering, finance, human capital management, and consumer business services. These roles tap into emerging technologies such as cloud computing, artificial intelligence, and machine learning.
Speaking at the inauguration, Richard Gnodde, CEO of Goldman Sachs International, said, "Our growth trajectory in India is driven by the nation's exceptional talent pool. Over the past two decades, both Bengaluru and Hyderabad have become pivotal to the firm's global operations. Our new office in Hyderabad underscores the firm's unwavering commitment to Indian expertise, which is unparalleled."
Gunjan Samtani, the country head of Goldman Sachs Services India and the global chief operating officer of Engineering at Goldman Sachs, remarked, "Within just two years, our teams in Hyderabad have cultivated deep expertise that enhances client experiences and boosts the firm's revenue. This includes the redesign of our engineering platforms and our talent engagement processes."