Global investment bank Goldman Sachs has announced the location of its new regional hub in Birmingham.
In April, the company revealed it planned to move its engineering division to the city by the end of the year with a mix of hiring and employee transfers.
It has now confirmed a two-year deal for one floor of space in the WeWork flexible office facility at 55 Colmore Row.
The first employees are expected to be on site from September with the headcount set to rise to several hundred over the coming years.
Goldman Sachs said the long-term aim was to find a permanent office in the city.
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Gurjit Jagpal, managing director at Goldman Sachs and head of the Birmingham office, said: “We are delighted to be taking space in this world-class office.
“The central location, amenities and workspace geared towards collaboration and flexibility will provide the ideal setting for our newly established presence in Birmingham and springboard for our ambitions in the city.
“We are already attracting great talent to join us in Birmingham and are excited to build on the entrepreneurial culture of Goldman Sachs in this new office.”
Nick Giraudeau, global head of financial services sales at WeWork, added: “We’re thrilled to be partnering with Goldman Sachs to establish their presence in Birmingham.
“We’re seeing increasing demand from companies across the financial services sector who are recognising the benefits of scalable, flexible space in creating engaging, collaborative workspaces for today’s increasingly hybrid working environment.”
Neil Rami, chief executive of investment promotion agency West Midlands Growth Company, said: “We’re delighted to welcome Goldman Sachs to the heart of the region’s financial district.
“Birmingham is ripe for future growth in technology, perfectly complementing the bank’s ambitions to recruit the very best talent.
“As the city gears up to host the Birmingham 2022 Commonwealth Games next year, Goldman Sachs’ arrival will coincide with the region’s escalated status as an internationally significant cultural destination.”