Goldman Sachs Eyes Birmingham Talent As It Doubles Office Requirement

Goldman Sachs is preparing plans to double its Birmingham tech hub as it sets its sights on the city's growing tech talent pool.

The investment bank has already signed up for close to 18K SF at WeWork’s 55 Colmore Row hub, central Birmingham, as a temporary measure.

The increase, first reported by React News, will push the long-term requirement significantly above the 50K SF reported in April 2021.

Goldman’s arrangement with WeWork allows for further growth at Colmore Row, and this has not been ruled out. The agreement with WeWork was for two years from September 2021.

The Birmingham office will eventually have a potential headcount of several hundred, led by its engineering division. 

The investment bank explained last year what it needed for its new Birmingham office. This includes “central location, amenities and workspace geared towards collaboration and flexibility”.

However, Birmingham's growing tech sector is the main appeal.

Survey data from recruitment consultancy Robert Walters, published on Wednesday, showed that tech vacancies in the Midlands have begun to rise sharply, up from a static 7,000 to 8,000 in 2019 and 2020, to close to 13,000 in 2021. “The growth in tech outside London looks set to continue, with figures showing that over a third of vacancies are based outside the capital," the company said.

Goldman is already preparing for growth and recruitment in the city. In November 2021 it agreed to back the Birmingham Scholar programme, which is designed to support students from underrepresented backgrounds who entered university through the Pathways to Birmingham scheme. Goldman will provide money and mentoring.

Goldman Sachs declined to comment when approached by Bisnow.