IT Minister KTR inaugurates Goldman Sachs’ new office in Hyderabad

The initiative reflected Telangana’s holistic initiatives to engage, collaborate and drive multinational firms to setup in Hyderabad, said the Minister.

Hyderabad: IT Minister KT Rama Rao launched a new state-of-the-art office of Goldman Sachs at Salarpuria Sattva Knowledge City here on Thursday. The office will be a Centre of Excellence for the firm’s client on boarding efforts and will house platform engineering and global enterprise partnerships.

In March 2021, Goldman Sachs commenced its operations with functions across engineering, finance, human capital management and consumer business services, besides cloud computing, artificial intelligence, and machine learning.

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After inaugurating Goldman Sachs’ new long-term office in the city, the Minister said the initiative reflected Telangana’s holistic initiatives to engage, collaborate and drive multinational firms to setup in Hyderabad.

“This will contribute to our existing vibrant ecosystem of global companies and startups here and create global opportunities for the local talent,” he said.

The Minister appreciated Goldman Sachs’ commitment to uplift the local community through their initiatives encompassing digital literacy, women entrepreneurship, and local vendor engagements.

Goldman Sachs International CEO Richard Gnodde said: “Our growth story in India is compelling and enabled by the country’s extraordinary talent. Over the last two decades, Bengaluru and Hyderabad have become integral to the firm’s global activities. Our new Hyderabad office is a testament to the firm’s continued commitment to Indian talent, which is world-class.”

Goldman Sachs Services India Country Head Gunjan Samtani said: “In just two years, our teams in Hyderabad have established deep competencies driving enhanced client experience and revenue enablement for the firm, including through redesigning our engineering platforms and talent engagement processes.”

The new office comprises a 3.51 lakh square feet in a nine-story tower at Salarpuria Sattva Knowledge City and accommodates approximately 2,500 professionals. Currently, there are over 1,500 professionals in Hyderabad of which over 75 percent are new hires.

This year, an additional 40 electric vehicles will be added to the existing fleet of 190 vehicles in the Hyderabad employee commutation programme, with onsite electric charging infrastructure. Separately, about 70 percent of products procured for the office interiors were sourced from local vendors.

Collectively with the Bengaluru office, India has the largest presence of Goldman Sachs globally outside its New York headquarters.