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Goldman Sachs to open office in Birmingham

Goldman Sachs to open Birmingham office in tech push US investment bank will create hundreds of jobs in largest UK base outside London Goldman’s Birmingham base will open by the end of the year.

Goldman Sachs está abrindo seu maior escritório no Reino Unido fora de Londres, criando centenas de empregos em tecnologia em Birmingham. O HSBC, o banco e um grande posto avançado do Deutsche Bank, empregando cerca de 1.000 pessoas, principalmente em funções de back office e tecnologia. Keynes, mas a grande maioria dos funcionários do grupo está em Londres. Mais divisões se mudarão para o escritório ao longo do tempo, com "várias centenas" de empregos localizados lá, disse Goldman. Estruturas bancárias, oferecendo uma base premium, mas muito mais econômica, para empresas inovadoras ”. O Conselho Local liderou uma reforma multibilionária do centro da cidade, rasgando seu anel rodoviário para criar espaços públicos, ciclovias e novos escritórios e blocos residenciais. A decisão de Goldman ocorre quando o Reino Unido prometeu "aumentar" a prosperidade em todo o país. As grandes universidades de West Midlands produzem 16.000 graduados em ciências, tecnologia e matemática anualmente. Embora uma vez que eles teriam saído para Londres, altos custos de moradia e a pandemia os tornaram mais inclinados a permanecer na região. Ele disse que havia 122 empresas de tecnologia financeira na região com uma força de trabalho de mais de 7.000 pessoas. O investimento de Sachs em West Midlands para criar uma grande presença na região, Neil Rami, executivo -chefe da West Midlands Growth Company, a agência oficial de promoção de investimentos da região, disse:

The US investment bank’s decision to open a technology centre in the Midlands city is a sign of growing interest among blue-chip employers in cheaper regional cities with a plentiful supply of graduates.

In recent years Birmingham has attracted the domestic headquarters of HSBC, the bank, and a large outpost of Deutsche Bank, employing about 1,000 people, mainly in back office and technology roles.

Goldman will hire software engineers, data analysts and data scientists to work on new ways of delivering financial services at the Birmingham base, which will open by the end of the year.

Marcus, Goldman’s consumer bank, has a UK office in Milton Keynes but the vast majority of the group’s staff are in London.

Richard Gnodde, chief executive 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.” More divisions will move to the office over time, with “several hundred” jobs located there, Goldman said.

Despite dire predictions, the UK’s departure from the EU just over a year ago has not led to mass job losses in the financial services sector.

Neil Rami, chief executive of the West Midlands Growth Company, the investment agency that dealt with Goldman, said the region was “successfully recasting typically London-centric banking structures, offering a premium but far more cost-effective base for innovative businesses”.

Birmingham and the towns around it have in recent decades struggled to recover from the decline of their once-mighty manufacturing industry in the face of global competition. The local council has led a multibillion-pound revamp of the city centre, tearing up its ring road to create public spaces, cycle paths and new office and residential blocks.

The high-speed HS2 rail line opening in 2031 will bring it within 50 minutes of central London. Goldman’s decision comes as the UK has promised to “level up” prosperity across the country.

It is moving tens of thousands of civil servants out of the capital. The West Midlands’ big universities produce 16,000 science, technology and maths graduates annually. While once they would have left for London, high housing costs and the pandemic has made them more inclined to stay in the region.

Rami said the 2022 Commonwealth Games offered more opportunities to attract international investors. He said there were 122 financial technology companies in the region with a workforce of more than 7,000 people.

Birmingham is home to Europe’s largest asset management fintech innovation hub, The Engine Room, run by industry body The Investment Association.

Cities such as Manchester and Leeds have also attracted investments that would once have gone to London in recent years.

Commenting on Goldman Sachs’ investment in the West Midlands to create a major new presence in the region, Neil Rami, Chief Executive of the West Midlands Growth Company, the region’s official investment promotion agency, said:

“Goldman Sachs is one of the world’s most prestigious investment banking institutions, renowned for its laser-focus on recruiting the best and brightest talent and the pre-eminence of its data-driven, customer-centric technologies. We are delighted that Goldman Sachs has chosen Birmingham as the home of its major new presence, where it will harness the region’s entrepreneurial talent to develop its Especialização digital crítica da missão, criando centenas de empregos. A região possui o maior e maior setor de serviços financeiros e profissionais de alto valor fora do capital e está super-carregando o potencial inovador do Reino Unido através da Supertech; O primeiro e único acelerador de serviços profissionais dedicados do Reino Unido. Momentum em investimentos estrangeiros aqui, com os Jogos da Commonwealth de 2022 e o status da cidade de Coventry, abrindo novas avenidas internacionais para fortalecer os fluxos de comércio e investimento para a região. É uma afirmação poderosa do apelo de nossa região às aspirações das marcas de serviços financeiros mais icônicos e multinacionais do mundo e o talento que eles procuram atrair. Como resultado de uma revisão meticulosa da base de emprego digital do Reino Unido, é outro endosso retumbante do nosso melhor talento da categoria dos setores de tecnologia e finanças. Downtown in Business

“As the investment banking landscape continues to innovate in the face of rapid FinTech transformation, the West Midlands Growth Company put forward a compelling appraisal of the region’s digital engineering workforce, academic facilities and long-standing influence in the field of banking and finance. The region boasts the largest and most high value Financial & Professional Services sector outside the capital and is super-charging the UK’s innovative potential through SuperTech; the UK’s first and only dedicated professional services-tech accelerator.

“Already the thriving home of client-facing operations for investors such as Deutsche Bank and HSBC UK’s headquarters, the West Midlands is successfully recasting typically London-centric banking structures, offering a premium but far more cost-effective base for innovative businesses with a growth-mindset. This is just the beginning of a surge in momentum in foreign investment here, with the 2022 Commonwealth Games and Coventry’s City of Culture status opening up new international avenues to strengthen trade and investment flows into the region.

“Goldman Sachs’ investment undoubtedly cements the West Midlands’ prominence on a global scale; it is powerful affirmation of our region’s appeal to the aspirations of the world’s most iconic, multinational financial services brands and the talent they seek to attract. As the outcome of a meticulous review of the UK’s digital employment base, it is another resounding endorsement of our best-in-class talent from the technology and finance sectors.

“We look forward to supporting Goldman Sachs’ long and prosperous journey here in the West Midlands.”

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