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Goldman Sachs to increase India engineering headcount in Bengaluru

Source | tech.economictimes.indiatimes.com

Goldman Sachs is planning to increase India engineering headcount in Bengaluru, as the multinational investment bank looks to make the country a major hub for clients globally.

Goldman, which set up offices here in 2004 with about 290 employees, now has more than 5,000 people.

“We have grown by 24% year-on-year, and increased our campus hiring by 20% in the last five years. Lateral hiring has increased by 30%…,” said Gunjan Samtani, head of Goldman Sachs Services India. “Our hiring trajectory is more aligned with the (business) growth.”

The company has invested $250 million to develop a new 10.5-acre hub, its third largest in the world. The company’s headcount includes 2,500 engineers and it is expected to add more at the 7,300-seater Bengaluru innovation hub. Goldman Sachs is also consolidating all employees from various locations in the city to its sprawling 1.2 million-square-foot hub.

The investment bank has seen significant technology value-addition from Bengaluru during the past one-and-a-half decades, and software solutions developed in the city have been used in many business verticals. It has also undertaken automation of key services such as client onboarding, the company said.

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