US investment bank Goldman Sachs will open a new office in Birmingham – its largest in the UK outside the capital – which will be in a shared office space.
The company is to open a technology centre, expanding its office footprint and creating hundreds of jobs at a time when other major banks are reducing space due to the Covid-19 pandemic. Goldman said staff would begin working in the new office in the third quarter of this year.
EG understands that the bank plans to set up shop in a prime shared office space in the city centre, which has not yet been finalised. It will function as an interim location while the company looks for a more permanent location.
Goldman chief executive David Solomon has been a vocal critic of remote working, calling it an “aberration” in February. The company has subsequently hastened to get staff back into the office.
But other banks such as HSBC have announced deep cuts to their property portfolios, particularly in retail banking, with some staff moving to permanent homeworking.
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.”
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