Goldman Sachs (NYSE:GS) has furthered its expansion strategy within India's BFSI sector, opening a new office, dubbed Opel, in Hyderabad today, Friday. The new center is part of the bank's ongoing commitment to enhance its presence in India, a strategy that has seen an investment of $7 billion since 2006.
The 'center of excellence' will host 1,500 employees, including both new recruits and transfers from Bengaluru. This move is in line with Goldman Sachs' aim to bolster client onboarding and enterprise partnerships. The bank is also focused on enhancing its engineering platforms and talent engagement processes.
The Hyderabad center is a significant addition to Goldman Sachs' Indian workforce, which currently stands at 9,000, predominantly located in Bengaluru and New York. With this latest expansion, the bank intends to strengthen its position in India's financial landscape.
The center was inaugurated back in March 2021 by Richard Gnodde and Gunjan Samtani. Today's opening ceremony saw praise from K T Rama Rao from the Telangana government along with Richard Gnodde and Gunjan Samtani.
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