Goldman Sachs has announced a significant contribution of £1.5 million to the West Midlands apprenticeship fund, further cementing its commitment to the region. The investment firm, which established its Birmingham office in 2021, seeks to enhance workforce development through this initiative. With over 450 employees now based in the city, Goldman Sachs continues to expand its influence and support local talent.
The funds will be allocated to the West Midlands Combined Authority (WMCA) levy transfer scheme, a successful program that has already generated £50 million and funded 4,800 apprenticeships. This scheme is designed to aid regional businesses in developing their staff, thereby addressing unemployment issues, particularly among young people.
"Only by working together can we tackle one of the biggest problems faced by our region, unemployment, particularly among young people." – West Midlands Mayor Richard Parker
Goldman Sachs moved to a permanent office at One Centenary Way last year, solidifying its presence in Birmingham. Gurjit Jagpal, head of Goldman Sachs Birmingham, expressed pride in supporting the expansion of apprenticeships in the area.
"Goldman Sachs has already shown their dedication to the region with their offices in Birmingham, but now they are showing how they are supporting our residents too." – West Midlands Mayor Richard Parker
"This reflects our ongoing commitment to Birmingham and our belief in the importance of digital and workplace skills," – Gurjit Jagpal, head of Goldman Sachs Birmingham
The WMCA's apprenticeship levy scheme aims to provide businesses with the opportunity to develop a skilled workforce for the future. The additional funding from Goldman Sachs will enable more residents to access these valuable apprenticeships, particularly benefiting smaller businesses.
Richard Parker, the West Midlands Mayor, has praised the scheme’s success and Goldman Sachs’ involvement. He highlighted that this collaboration is crucial in addressing regional unemployment challenges.
"The depth and quality of talent in the region has been a differentiator since we opened our Birmingham office," – Gurjit Jagpal, head of Goldman Sachs Birmingham