Goldman Sachs sets up 1500-seater in B'lore

BANGALORE: US based investment banking and securities management firm, Goldman Sachs, has set up an offshore facility in Bangalore. Set up with an investment of $30 million, the 1500-seat facility currently houses 500 people. Growth projections of the company indicate more investment and an increase in headcount to 800 people by the end of the year.

Speaking on the occasion, Edward Forst, chief administrator, Goldman Sachs said that the Bangalore facility will focus on mainstream jobs such as knowledge management, asset management, treasury and equity research and not just on back-end processes.

The facility will also host a 'technology command center', dedicated towards network and data center management for the company.

After Information Technology, customer service and business process outsourcing to India, the latest trends suggest a rise in the offshoring of market research and business intelligence activities.