Mayor welcomes Goldman Sachs £1.5m contribution to West Midlands apprenticeship funding
Investment bank Goldman Sachs is committing £1.5 million to a fund used to train employees at small and medium enterprises in the West Midlands, it says.
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The firm said it would be committing £1.5 million of it's Apprenticeship Levy, a government employment tax paid by large firms aimed at boosting vocational skills and funding apprenticeships, to the West Midlands Combined Authority levy transfer scheme.
The funds will help small and medium-sized businesses, charities and social enterprises to invest in and develop their staff, with a focus on digital skills.
Goldman Sachs established its office in Birmingham in 2021 and now has over 450 employees in Britain’s second-largest city. Last year, the firm moved to a permanent office at One Centenary Way, giving significant room to grow across several functions including Engineering, Human Capital Management, Legal, Audit and Compliance.
The news was welcomed by Richard Parker, Mayor of the West Midlands, who said the contribution would help to fund "thousands" of placements and apprenticeships in the region.
"Only by working together can we tackle one of the biggest problems faced by our region, unemployment, particularly among young people," he said.
"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. By committing to the Apprenticeship Levy scheme, more residents get access to apprenticeships, and smaller businesses can train the workforce they need for the future. Already the scheme has raised £50 million, funding 4,800 apprenticeships."
Gurjit Jagpal, head of the Birmingham Office at Goldman Sachs, said: “We are proud to support the expansion of apprenticeships in the West Midlands. This reflects our ongoing commitment to Birmingham and our belief in the importance of digital and workplace skills.
"The depth and quality of talent in the region has been a differentiator since we opened our Birmingham office in 2021, and we look forward to continuing to engage positively with local communities to invest in talent across all levels of experience."
