The office is expected to be a centre of excellence for the firm’s client-onboarding efforts, housing platform-engineering, and global enterprise partnerships.
Published Oct 05, 2023 | 8:43 PM ⚊ Updated Oct 05, 2023 | 8:44 PM
KTR inaugurates Goldman Sachs. office. (Supplied)
Global investment banking, securities and investment management firm Goldman Sachs on Thursday, 5 October, opened Opel, its state-of-the-art office, in Hyderabad.
The office is also expected to be a centre of excellence for the firm’s client-onboarding efforts, housing platform-engineering and global enterprise partnerships.
Telangana IT and Industries Minister KT Rama Rao said on the occasion: “I’m pleased to inaugurate Goldman Sachs’ new long-term office in Hyderabad after it first established presence here in 2021. It reflects Telangana’s holistic initiatives to engage, collaborate and drive multinational firms to set up in Hyderabad.”
He added: “I also commend Goldman Sachs’ commitment to uplift the local community through their initiatives encompassing digital literacy, women entrepreneurship, and local vendor engagements.”
BIG NEWS: Goldman Sachs Opens a New Office in Hyderabad
IT and Industries Minister @KTRBRS inaugurated a new state-of-the-art office of the @GoldmanSachs Group in Hyderabad. The office will be a centre of excellence for the firm's client onboarding efforts and will house… pic.twitter.com/mlYt5xdQSF
— KTR, Former Minister (@MinisterKTR) October 5, 2023
Richard Gnodde, chief executive officer of Goldman Sachs International, said at the inauguration: “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.”
Gunjan Samtani, country head of Goldman Sachs Services India and global chief operating officer of Engineering at Goldman Sachs, said: “This new Hyderabad office exemplifies our priorities of collaboration, innovation, sustainability and cutting-edge technology, and our commitment to enable our people to innovate locally and collaborate globally. 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.”
Goldman Sachs’ Hyderabad operations commenced in March 2021, with functions across engineering, finance, human capital management and consumer business services, as well as opportunities across emerging technologies such as cloud computing, artificial intelligence, and machine learning.
The new office reportedly comprises new hires and internal transfers from Bengaluru to ensure efficient knowledge transfer, and culture orientation and to implement the firm’s talent seeding strategy. Currently, there are over 1,500 professionals in Hyderabad of which over 75 percent are new hires.
The new office is said to comprise a 3.51-lakh-square-foot nine-storey tower located at Salarpuria Sattva Knowledge City. It reportedly has the capacity to accommodate approximately 2,500 professionals.
Opel is apparently designed to achieve the highest level of LEED and WELL certifications, and ISO14001. Sustainability measures are said to include net zero impact on the environment, offsetting 100 percent of its direct carbon emissions, centralized waste management practices, and water reusability measures.
This year, an additional 40 electric vehicles will reportedly 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.
