Goldman Sachs has committed £1.5 million to the West Midlands apprenticeship fund, with the objective of assisting regional businesses in the development of their personnel. The investment bank has announced its allocation of funds from its apprenticeship levy to the West Midlands Combined Authority (WMCA) levy transfer scheme.

This financial contribution will enable small and medium-sized enterprises, charitable organizations, and social enterprises to invest in and enhance their workforce. West Midlands Mayor Richard Parker stated that the WMCA's apprenticeship levy scheme has already generated £50 million, thereby facilitating the funding of 4,800 apprenticeships within the region. Mr. Parker further indicated that this augmentation of funding will provide increased access to apprenticeships for residents and enable smaller businesses to cultivate their future workforces.

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“The mitigation of regional unemployment, particularly among young people, necessitates collaborative endeavors,” stated Mr. Parker. “Goldman Sachs has demonstrated its commitment to the region through the establishment of its Birmingham offices, and now reinforces this commitment by actively supporting our residents.”

The investment firm established its Birmingham office in 2021 and currently employs over 450 individuals in the city, having relocated to its permanent premises at One Centenary Way in the preceding year.

Gurjit Jagpal, Head of Goldman Sachs Birmingham, expressed the firm's pride in supporting the expansion of apprenticeship opportunities within the region. “This initiative reflects our ongoing dedication to Birmingham and our conviction in the significance of digital and workplace skills,” stated Mr. Jagpal. “The depth and caliber of talent within the region has been a distinguishing factor since the inception of our Birmingham office, and we are committed to continuing our positive engagement with local communities to invest in talent across all levels of experience.”

This information was obtained through the Local Democracy Reporting Service, which provides coverage of local councils and other public service organizations.