Goldman Sachs plans to open an office in Birmingham, with the investment bank hoping to have the new office up and running by the third quarter of 2021.
The Birmingham office will initially be a shared space in the city centre, ahead of plans to move to a new and yet to be determined Birmingham location.
The office will hire “several hundred staff” over time, who will be mostly local hires. Goldman Sachs would not disclose how much the office would cost.
Richard Gnodde, CEO of 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.”
Engineering will be the first division to build out in Birmingham, with a mix of hiring and employee transfers.