£1.5 million boost for West Midlands apprentices
A major financial institution has committed £1.5 million to a West Midlands apprenticeship fund to help other businesses develop their staff.
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Goldman Sachs announced it is committing the money from the firm’s apprenticeship levy 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.
The transfer has been made possible by the Levy Transfer scheme, which helps large organisations utilise their levy efficiently and contribute to the wider economy.
Goldman Sachs established its office in Birmingham in 2021 and now has over 450 employees in the city and moved to a permanent office at One Centenary Way last year.
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.”
West Midlands Mayor Richard Parker said: “Only by working together can we tackle one of the biggest problems faced by our region, unemployment, particularly among young people.
“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.
“But I am doing more – working with businesses to secure thousands of more placements and apprenticeships for everyone across the region.”
Goldman Sachs is also committed to its own apprenticeship programme, which continues to expand.
The firm launched its Degree Apprenticeship in 2016 in partnership with Queen Mary University London, providing school leavers an alternative pathway to the firm allowing them to study for a university degree whilst also working at the firm.
Since its inception, the program has welcomed over 100 apprentices across several business areas including in Global Banking & Markets, Engineering and Operations.
