The firm will initially build out an engineering division at the office through a mix of new hires and employee transfers. It eventually plans to have a headcount of several hundred across multiple divisions at the location.
In a press release, Goldman Sachs noted Birmingham’s “access to a strong and deep new talent pool, excellent academic institutions, a growing technology sector, and long-standing leadership in STEM industries”. It also mentioned that the city’s proximity to its London office will allow for close contact with other divisions and clients.
“Establishing a new office in Birmingham will diversify our UK footprint and give us access to a broad and deep talent pool in the local area. We see a tremendous opportunity to enhance our UK presence and continue delivering for our global clients,” said Richard Gnodde, chief executive officer, Goldman Sachs International.