"Goldman Sachs Expands Presence in India with New GCC Hub in Hyderabad"

Goldman Sachs, the renowned American investment bank, has announced a significant stride in its expansion efforts in India with the inauguration of a new Global Capability Centre (GCC) in Hyderabad. This development, unveiled on Thursday, underscores the bank's commitment to harnessing India's vast talent pool and its strategic importance in the global landscape.

The newly established centre in Hyderabad is poised to become a hub of excellence, particularly focused on client onboarding activities and fostering enterprise partnerships. With the capacity to accommodate approximately 2,500 professionals, this state-of-the-art facility represents a significant addition to Goldman Sachs' footprint in India.

Goldman Sachs has been actively investing in India since 2006, with a cumulative investment of over $7 billion. The bank's presence in India was first marked by the inauguration of its Bengaluru office in 2004. Presently, when combined with the Bengaluru facility, India stands as the largest talent hub for Goldman Sachs, boasting a workforce of over 9,000 employees—second in size only to its New York headquarters.

The centre in Hyderabad will house a diverse workforce, including both new recruits and transfers from Bengaluru. This strategic blend facilitates the seamless transfer of knowledge, acclimatizes newcomers to the company's culture, and aligns with the firm's overarching strategy for talent deployment. Currently, over 1,500 professionals are stationed in Hyderabad, with more than 75% being new recruits.

Goldman Sachs initiated its operations in Hyderabad in March 2021, spanning various functions, including engineering, finance, human capital management, and consumer business services. These roles are closely intertwined with emerging technologies, including cloud computing, artificial intelligence, and machine learning, aligning with the bank's commitment to innovation and digital transformation.

Speaking at the inauguration, Richard Gnodde, CEO of Goldman Sachs International, expressed his enthusiasm for India's exceptional talent pool, stating, "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, highlighted the remarkable progress made by the teams in Hyderabad since the firm's inception there. "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," Samtani noted.

The establishment of the new GCC in Hyderabad reinforces Goldman Sachs' dedication to nurturing talent and driving innovation while strengthening its position as a prominent player in India's financial landscape.

BS