Goldman Sachs plans expansion in India, opens new GCC hub in Hyderabad
As part of its expansion in India, US investment bank Goldman Sachs on Thursday announced the launch of a new Global Capability Center (GCC) in Hyderabad. The new center, with space for approximately 2,500 professionals, will serve as a knowledge center for client introductions and for establishing business partnerships.
Since 2006, Goldman Sachs has invested more than $7 billion in India. The bank opened its office in Bengaluru in 2004. Today, combined with the Bengaluru office, India is Goldman Sachs’ largest talent center, with more than 9,000 employees, after its New York headquarters.
The Hyderabad center includes new recruits as well as transfers from Bengaluru. This mix ensures efficient knowledge transfer, familiarizes newcomers with the corporate culture and supports the company’s talent distribution strategy. Currently, there are more than 1,500 professionals based in Hyderabad, of which more than 75 percent are new recruits.
The company commenced operations in Hyderabad in March 2021 and included roles in engineering, finance, human capital management and consumer business services. These roles use emerging technologies such as cloud computing, artificial intelligence and machine learning.
Speaking at the inauguration, Richard Gnodde, CEO of Goldman Sachs International, said: “Our growth trajectory in India is driven by the country’s exceptional talent pool. Over the past two decades, both Bengaluru and Hyderabad have become crucial to the company’s global operations. Our new office in Hyderabad underlines the company’s unwavering commitment to Indian expertise, which is second to none.”
Gunjan Samtani, Country Head of Goldman Sachs Services India and Global Chief Operating Officer Engineering at Goldman Sachs, commented: “In just two years, our teams in Hyderabad have built deep expertise that enhances customer experiences and increases company revenue. This includes redesigning our engineering platforms and talent engagement processes.”