New York-based Goldman Sachs, the global investment and financial services giant, has officially opened its new $250-m campus in the city of Bengaluru in southern India.
The vast new office space, located on the outskirts of the city, extends to 1.2 millon sq.ft within 22.5 acres of parkland. More than 9,000 emplyees will be based in the new campus. The Bengaluru office is already Goldman Sachs' third-largest office in the world, and its second-largest beyond New York.
Gunjan Samtani, managing director and head of Goldman Sachs Services in India, said, "Our Bengaluru center has become one of the firm's global centers of innovation focused on the development and application of artificial intelligence, machine learning and data analytics to help solve business problems for our worldwide network."
The Wall Street bank started operating in Bengaluru in 2004, with a staff of around 300. Today the headcount is 7,300, and this is expected to rise by a third in the coming 24 months. Bengaluru is already home to 2,500 staff working in engineering and technology, and is the second-largest Goldman Sachs engineering base outside New York.
Many observers see Goldman Sachs' renewed overseas expansion as a quiet rejection of President Donald Trump's anti-global position.