Goldman Sachs to create 500 new jobs in Birmingham office expansion

Global banking giant Goldman Sachs says it plans to create up to 500 new jobs at its base in Colmore Business District.

The investment bank and financial services firm, which opened an office in the city in 2021, says it plans to double its workforce to more than 1,000 staff.

Goldman Sachs first launched in the city’s WeWork facility in Colmore Row before striking a deal a year later for 110,000 sq ft of space across five floors in One Centenary Way on the city’s Paradise estate.

Over the course of its first year in Birmingham, it grew the team to 250 staff and moved to One Centenary Way as it had capacity to accommodate up to 1,000 people.

Its staff in the city work in fields such as engineering services, human capital management, legal, audit and workplace solutions.

In a statement issued today, the US bank said: “As we deepen our commitment to the UK economy, Goldman Sachs intends to expand our Birmingham office, bringing 500 roles to the city and aiming to double our headcount to over 1,000 in the coming years.

“Across our global banking and markets and asset and wealth management businesses, we are increasing our financing activities to critical parts of the economy where we see substantial opportunities to deploy capital, including in AI and digital infrastructure, with several billion pounds ready to be committed.”

Neil Rami, chief executive inward investment agency West Midlands Growth Company, said: “A month on from playing host to the inaugural Regional Investment Summit in Birmingham, Goldman Sachs’ decision to double its headcount here reinforces the West Midlands’ rise as a global hotspot for financial and professional services.

“This renewed vote of confidence demonstrates that we have the specialist talent, infrastructure and connectivity to support the growth ambitions of the world’s biggest businesses.

“The West Midlands is already the UK’s largest regional business, professional and financial services cluster, with 62 investment projects and expansions landing here and 3,659 jobs created since April 2022.

“This latest investment from one of the world’s leading investment banks is likely to have a positive ripple effect across Birmingham’s business ecosystem, making the region a magnet for similar companies and making it even more attractive to skilled talent.

“It’s brilliant to see Goldman Sachs thriving in their home at Paradise Birmingham and we look forward to continuing to support their ongoing expansion in the city.”