Goldman Sachs is to hire 100 staff in Singapore, raising its headcount in the Southeast Asian financial hub to more than 1000.
All of the new positions will mainly be in technology, EG Morse, head of Goldman Sachs’ regional operations, told Bloomberg in an interview. About 60% of existing staff work in support and technology roles.
Part of the tech hiring will support the bank’s cash management operations, a new area of business in South East Asia for the Wall Street giant, according to Morse.
“We are looking to really grow our franchise here across all products,” Morse told Bloomberg. “It’s a significant and major client hub from banking clients to asset managers.”
Goldman Sachs provides services such as investment banking, asset management, wealth management, securities and commodities trading out of its Singapore hub. The US bank’s Asia operations contributed 14% of its global revenue last year.