- Dallas is now home to Goldman Sachs the biggest work power outside New York City.
- 5 Goldman employees, from partner to analyst, share what he lives and working there.
- They said career opportunities in Dallas have increased as the center receives more front office functions.
In 2017, Goldman Sachs Operational Co -Operations, David SolomonThere was a big question of one of his bankers’ friends: Go to the post of Goldman in Dallas, Texas. At that time, Dallas was the home of about 900 Goldman employees, and the bank had not had a full -time partner located there since the 1990s.
Eternal New Yorker loaded with the construction of the Dallas office, Aasem KhalilI didn’t know what to expect. Experience, he said, has exceeded his expectations – both personally and professionally.
“If you think again in the mid -90s, in the mid -2010s in New York City, it had this extraordinary gold era,” Khalil Business Insider told a recent interview. “Dallas is at the early beginning of a similar run, with a rebirth of financial services, a cultural explosion and a constant growth of the population,” he said, adding, “all these things are really exciting.”
When one thinks Goldman Sachs, They tend to think about New York City – where path Born. Today, Dallas is the largest US office of Goldman outside the New York City, the home of 4,600 Goldman and growing employees.
Khalil, who was Goldman’s global head of the chemical bank when he moved to Dallas, is now the head of the Dallas office. It is helping to oversee the construction of a $ 500 million higher office campus, which will accommodate approximately 5,000 employees when opening in 2028.
Goldman is not alone. A number of companies have either moved or expanded their offices to the Lone Star State in recent years, withdrawn from the friendly business environment, favorable tax policies and a capable labor force strengthened by the universities of the region and the growing business scene . Elon Musk He made titles when he transferred Tesla Electrical Manufacturer to Austin from California in 2021, citing disappointments with the policies of the last Covid-19 state blocking.
Dallas, meanwhile, has become a center for financial firms like JPMORGAN CHASECharles Schwab and Wells Fargo. According to the Law firm, Foley & Lardner, the employment of investment and securities in Texas has increased by 27% since the Pandemia of Koronavirus.
Bi spoke with five Goldman Sachs Employees in Dallas, including Khalil, to understand what it is like to work in the US Center with faster bank growth. They discussed the challenges of being away from headquarters, social and professional culture and what it means to build a career in finances outside Wall Street.
More than a rear office center
Prior to the arrival of Khalil, the Dallas office of Goldman, founded in 1968, was mainly focused on real estate and private assets, as well as on the support of the support of the high and back office. However, in 2020, Goldman announced plans to reduce more than $ 1 billion in cost, partly moving staff from higher cost centers such as New York City and London in more affordable cities like Dallas, Texas, and Salt Lake City, Utah.
As a result, the Dallas office is now home to a much wider group of career opportunities, including investment banking, property management, property management, real estate and sales and trade, told BI executives. Some of the firm’s best executives are also centered on, including Khalil, who is the global chief of Banking Investment Services in addition to leading the Dallas office, and Rob Kaplan, reunited in Goldman last year as vice president The bank and a member of his management committee following an attack as President of the Federal Bank of Dallas.
“One of the things about the presence of Dallas is that we are well represented in every division of the firm,” Kaplan Bi told, adding: “You will see us grow in divisions.”
The company refused to secure a separation, but a summary of the bank career portal showed more than 250 open posts in Dallas since the end of February. The positions ranged from a full Stack Java developer to associates focused on direct lending. The sixty -four job lists were in the AWM group, versus 36 in global banking and markets, and 31 in the other larger group, the risk division.
New office bankers get experience in agreement just like those in New York, Khalil said. Dallas -based Banking Banking team advised Celanese, a global chemical company in its purchase of $ 1.15 billion of Santoprene’s Exxon Mobile Business in late 2021, and Tyler Technologies, a software firm, in all money , $ 2.3 billion NIC purchase, a government company of solutions and payments in the same year.
The new Banras bankers are also attracted to agreements dealt with by other teams, Khalil said.
“We have a lot of calls looking for our small resources to help execute M&A transactions for clients inside and around the southwest,” Khalil said, adding: “It happens all the time when other regions call us and say: “Hey, can we borrow that and so?
Where the possibility meets the connection
Despite trying to make Dallas a 200 West Street microcosm, where Goldman is headquartered, employees said the southern center feels more intimate as a result of its smallest size.
“Forty -five hundred people do not sound small and cozy, but the truth is that you can get to know everyone here, you can get wings around the country, and we have many mentors and coaches,” Kaplan said, The Vice President. “I spend a lot from my time teaching and training young people early in their careers in the Dallas office and across the firm.”
Long resident of Dallas, Oksana Beard – a managing director in the management of assets and assets and global debt firm management for immovable property and Goldman Sachs asset management – likes to help new arrivals to settle in the city .
“When people come, the reactions I hear enough are that they are overloaded by that southern hospitality and open -door cultures that we tend to have,” she said. The challenges tend to arise along personal lines as they fit into their new home, she added. “Just on a personal level, in which community you want to get into more than you will buy your school or school education and such things,” the beard explained.
Kaplan, meanwhile, has received reception at his home in Dallas approximately once a month for employees ranging from analysts to vice presidents and management directors. “We’ll get a hundred people as much as I can get into my apartment,” he said.
To live in Dallas
Goldman’s website paints Dallas as the perfect combination of quiet and urban living. A guide to the city displayed on the website until recently said it is home to the largest arts circle in the country, over 160 miles of urban walks and bike trails, and four major league sports teams.
Another difficulty of life in Dallas is the low cost of living. According to the Institute of Economic Research, New York is 150% more expensive than Dallas, and a person who makes $ 30,000 a year in Dallas will have to do about $ 75,000 to maintain an identical living standard in Borough of Manhattan.
For Maggie Kravchuk, an analyst in the assets and wealth management group, the ability to work from Dallas was a key point of sale when she joined the full -time bank in 2022. Kravchuk attended Baylor University nearby, so had already built a life there
“I went to college in Texas and I was able to build links here all the time at university,” Kravchuk said. “It was amazing to be able to pursue my career in finance that I wanted to leave a place that had been done at home for me and where they were many of my friends.”
Despite having friends in the area, Kravchuk said she also cultivated close ties with members of her analyst class. Recently, a group of them traveled to Florida to run half a marathon.
“There is a group of us who love the run,” she said. “We train for some races every year.”
Main points of the Dallas office
Perks of Goldman’s Dallas Office include a suite at the Airlines American Center, where the Dallas Mavericks NBA team and the Dallas NHL team play, employees said. Sometimes, Goldman Dallas employees are invited to get a game from the suit, which is mainly used to entertain customers.
Employees take free access to the Nasher sculpture center, a gallery containing more than 300 pieces of modern and contemporary work by artists like Picasso, Matisse and Rodin.
Paige Richey, chief of staff for the Dallas office, said that working in Dallas has given her and her three children a quality of life that they may not have elsewhere.
“I tell them all the time that we are lucky to be able to get into the city, go to the museum, hit the game of Dallas Mavericks,” she said. “This feels a little bit from New Yorker -i that my daughters now-their favorite thing to do is get into their rolls and meet their friends and they go to Starbucks. So feels a little one way urban living. “
Goldman has a 5-day policy in offices in its offices, including Sitin Dallas. However, Richey said her life there gives her the flexibility to have a career and raise her children, thanks to the supporting bosses and a short trip.
“I never thought that I would be able to be in Goldman as a mother working with three children and have a career that I think is in UP, and feel like I am taking to raise our girls and not having someone else to do it for me. ”
Reed Alexander is a correspondent in Business Insider. It can be reached by email at ralexander@buzinsinsisider.com, or SMS/Coded Signal of the application in (561) 247-5758.