American finance giant Goldman Sachs is set to expand its Birmingham operations with the addition of 500 staff, along with committing to a multi-billion pound investment into UK tech.
Goldman Sachs opened its Birmingham office, which houses its tech functions, in 2022. It now reportedly intends to double the number of staff there to over 1,000 employees.
A spokesperson said: “We are increasing our financing activities to critical parts of the economy where we see substantial opportunities to deploy capital, including in AI and digital infrastructure, with several billion pounds ready to be committed”.
Across the UK, the global firm employs over 6,000 people, with its London office also being the headquarters for Goldman Sachs International.
Neil Rami, chief executive at the West Midlands Growth Company, added: “A month on from playing host to the inaugural Regional Investment Summit in Birmingham, Goldman Sachs’ decision to double its headcount here reinforces the West Midlands’ rise as a global hotspot for financial and professional services. This renewed vote of confidence demonstrates that we have the specialist talent, infrastructure and connectivity to support the growth ambitions of the world’s biggest businesses.
“This latest investment from one of the world’s leading investment banks is likely to have a positive ripple effect across Birmingham’s business ecosystem, making the region a magnet for similar companies and making it even more attractive to skilled talent.”