Goldman’s Hiring Binge in China

Goldman Sachs is in the process of hiring 320 new employees in China, focusing on investment banking and deal making. This is part of a five-year plan to double their workforce in China to 600. Other investment banks like Credit Suisse, UBS, and HSBC are also expanding in China, leading to a competitive market for talent. The expansion comes as China's economy recovers from the pandemic, with a renewed focus on asset management and securities firms.

What is the primary focus of the 320 new hires at Goldman Sachs?

• IT Support

• Customer Service

• Investment Banking Dealmaking

• Marketing

What is the goal of Goldman Sachs' five-year plan initiated in 2019?

• To launch a new product line

• To expand into Europe

• To double their workforce in China

• To reduce costs by 50%

Which new unit is Goldman Sachs setting up on the mainland as part of its expansion?

• Insurance

• Asset Management

• Retail Banking

• Real Estate

Which banks are also expanding their workforce in China alongside Goldman Sachs?

• Barclays and Deutsche Bank

• Credit Suisse, UBS, and HSBC

• Morgan Stanley and JP Morgan

• BNP Paribas and Societe Generale

What challenge do banks face in expanding their workforce in China?

• Finding enough talent

• Political instability

• Regulatory hurdles

• High operational costs