Goldman Sachs is to open an office in Birmingham that will create hundreds of jobs.
It will be the Wall Street investment bank’s first significant expansion outside London and is a boost for Britain’s financial services industry, which is traditionally centred on the City of London.
The office will be a technology hub for the American bank, which initially plans to base jobs from its software engineering division in Birmingham. The bank plans to transfer employees to the office and hire locally. It aims to have “several hundred” people at the site from different parts of its business.