Speculation over location for merchant bank

Goldman Sachs’ new Birmingham office could end up in Brindleyplace.

Brindleyplace on Westside is understood to be a leading contender for the planned new Birmingham base of US global investment bank Goldman Sachs.

The Goldman Sachs Group has announced that it intends to expand its UK operations by opening a new office in the second city later this year.

The new office will eventually employ hundreds of people both transferred and hired locally, starting with jobs from its software engineering division.

The final location for Goldman Sachs’ new Birmingham office has not yet been confirmed, but a source close to the deal has revealed that Brindleyplace on Westside is already one of the top locations under consideration, as the area already hosts several major banking institutions.

Two of the ‘big four’ UK clearing banks have a major presence on Westside, with Lloyds Bank having offices at 2 Brindleyplace and the National Westminster Bank, commonly known as NatWest, having its Business Banking division at 9 Oozells Street.

In addition, the smaller Unity Trust Bank has its national headquarters at number 4 Brindleyplace, while German-based Deutsche Bank provides global banking services from offices at number 5.

Brindleyplace and its surrounding area is seen as an ideal location for businesses to make their home, as demonstrated by numerous recent major developments.

It has a large amount of open space, including Brunswick and Oozells squares, and is well served by the local canal network, Metro tram extension, as well as bars, restaurants and shops.

Goldman Sachs revealed that its target is to welcome people to the new Birmingham office in the third quarter of 2021.

It said locating in Birmingham offered access to a “strong and deep new talent pool, excellent academic institutions, a growing technology sector and longstanding leadership in STEM industries”, while there is also close proximity to its existing offices in London.

Richard Gnodde, chief executive officer for 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.”

Mike Olley, general manager of Westside BID, said: “The announcement that Goldman Sachs is coming to Birmingham is really exciting, and it would be a huge feather in our cap if they decide to locate on Westside with all the facilities we have available.

“Brindleyplace has the most well provided public open space in the city and boasts an unenvied atmosphere with the combination of our canals. tram, and pedestrianised areas.

“We already have an established banking sector here with the likes of major institutions such as Lloyds, NatWest and Deutsche, and we would be delighted to also welcome Goldman Sachs if they choose to make us their home as well.”

When Westside BID’s reporter contacted Goldman Sachs to ask if Westside was under consideration for the bank’s new offices, no-one was available for comment.