Goldman Sachs seeks to hire more than 400 employees in China, Hong Kong

Name: China 2020 census records slowest population growth in decades
Uploaded: 2021-05-17T04:43:00.000Z
Duration: 10 min 42 s
Description: China 2020 census records slowest population growth in decades

The American investment bank reached an agreement to take full control of its mainland joint venture in December

Foreign banks are expanding their presence as China further opens up its financial markets

Reading Time:2 minutes

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A Goldman Sachs sign on the floor of the New York Stock Exchange. Goldman plans to add more than 400 staff in mainland China and Hong Kong this year. Photo: EPA-EFE

Chad Bray

Published: 12:43pm, 17 May 2021Updated: 10:37pm, 17 May 2021

Goldman Sachs is hiring more than 400 employees in mainland China and Hong Kong, the latest foreign bank to seek to further expand its presence in the world’s second-biggest economy, according to a person familiar with the matter.

The American bank has filled or is in the process of filling 320 positions, including 70 in its investment bank, according to the person, who was not authorised to discuss the matter publicly. It plans to add another 100 staff before the end of 2021, the person said.

Goldman declined to comment on its hiring plans on Monday.

The hiring spree was reported earlier on Monday by Bloomberg.

10:42

China 2020 census records slowest population growth in decades

Goldman’s hiring push comes as foreign lenders are racing to take full control of their mainland China joint ventures and seek new licences to sell directly to mainland consumers as Beijing further opens up parts of its financial sector, including asset management, insurance and securities.

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