Goldman, BlackRock, others seek to hire hundreds in China – Reuters

Goldman Sachs Group Inc. and Fidelity International Ltd. plan to hire 70 and 100 staff, respectively, in China in 2021 as foreign financial firms seek to tap growth opportunities in the country, Reuters reported Feb. 11, citing representatives and headhunters.

In addition to Goldman and Fidelity, BlackRock Inc. is seeking to fill a dozen senior positions, including vice president of trading and head of risk and quantitative analysis. The asset manager is currently setting up a joint venture in China with its partners. BlackRock declined to comment, Reuters noted.

Goldman's plan is part of its target to boost its headcount in China to 600 by 2024, a spokesman of the U.S. company said. It is currently seeking approval to own 100% of its Chinese joint venture, Goldman Sachs Gao Hua Securities Co. Ltd. Meanwhile, Fidelity's hiring plan comes after the fund manager tripled its office space in Shanghai in September 2020.

The report came after UBS Group AG announced plans in January to double its staff for investment banking in three to five years.