Goldman Sachs Leases Permanent Office in Birmingham, UK09.29.2022
Goldman Sachs has reached a long-term lease agreement for a 110,000 sq ft permanent office space at One Centenary Way, part of MEPC’s £1.2 billion Paradise Birmingham development.
The new office space comprises five floors of the building, including a roof terrace overlooking Centenary Square. The office will have space for a headcount of several hundred, with optionality to accommodate more than 1,000 people in future years if required.
Due for completion in early 2023, One Centenary Way is one of Birmingham’s most sustainable buildings with a pure electric heating and hot water supply system and cutting-edge technology, services and amenities.
Since opening its first office in Birmingham in September 2021, Goldman Sachs has filled nearly 250 new positions in the city, across functions including Engineering, Human Capital Management, Legal, Audit and Corporate and Workplace Solutions. The firm expects to hire several hundred more employees in the years ahead, predominantly from the region.
In their first year, teams based in Birmingham have already been leading on global projects and innovations for the firm, making significant commercial contributions.
Gurjit Jagpal, Managing Director and Head of the Birmingham office at Goldman Sachs, said: “The quality, depth and breadth of Birmingham’s talent pool has exceeded expectations in our first year in the city. This new office space will be perfectly suited to our collaboration, flexibility and growth requirements in the years ahead. We are excited to cement and grow our position as an important employer and member of the business community in the city and the region.”
Rob Groves, regional development director at MEPC, the commercial property development and asset management arm of Federated Hermes, said: “‘The arrival of Goldman Sachs in Birmingham is gathering momentum with the firm’s choice of One Centenary Way for its new home in the city. This is a major deal for Paradise, for the city and for the region, bringing a large number of highly skilled jobs into the city centre with one of the world’s leading investment banks. Goldman Sachs’ choice of One Centenary Way reinforces the status of this building as the city’s most prestigious and sustainable business address.”
Neil Rami, Chief Executive at West Midlands Growth Company, said: “I’m delighted we have been able to support Goldman Sachs’ growth ambitions in the West Midlands. Their commitment to Birmingham is an international endorsement of both the quality of our local tech talent and a testament to the supportive business ecosystem here.”
Further Details on One Centenary Way
Designed by Glenn Howells Architects, One Centenary Way is a 68-metre tall, 13 storey, 280,000 sq ft commercial building with office, leisure, bar and restaurant uses on the ground floor.
The basement of the building will feature Birmingham’s first dedicated cycle hub with space for 330 bikes, showers and maintenance facilities, all available to the public as well as Paradise occupiers.
A large gym and wellness centre will also be located on the lower ground floor, overlooking the new Western Terrace public realm being created as part of the next phase of development.
One Centenary Way and the rest of the Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council.
The private sector funding is being managed by the international business of Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments) on the first phase of the development and for One Centenary Way, the 280,000 sq ft first part of Phase Two. MEPC is the development manager.
Source: Goldman Sachs
C.S. Venkatakrishnan said his prognosis is excellent and his condition is curable.
The agencies found a shortcoming related to data quality and data management.
Goldman Sachs Asset Management agreed to pay a $4m penalty.
Investment bank has been impacted by industry-wide slowdown in capital markets and reduced sales & trading.
AllianceBernstein will deconsolidate Bernstein Research from its financial statements after closing.