At a time when other banks are consolidating their real estate, Goldman Sachs is to expand its footprint in the UK by opening a new office in Brimingham that will house several hundred tech staff.
Engineering will be the first division to build out in Birmingham with a mix of hiring and employee transfers.
Richard Gnodde, chief executive officer for Goldman Sachs International, said: “Establishing a new office in Birmingham will diversify our UK footprint and give us access to a broad and deep talent pool in the local area. We see tremendous opportunity to enhance our UK presence and continue delivering for our global clients.”
While other big banks are using the pandemic as an opportunity to rethink their real estate needs as more staff work from home, Goldman Sachs remains an outlier.
In February , Goldman Sachs boss David Solomon labelled the work from home phenomenen as an "aberration".
“I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us," he said. "And it’s not a new normal. It’s an aberration that we’re going to correct as soon as possible.”