Goldman Funds Support Office in Toronto
Goldman Sachs recently opened a hedge fund administration office in Toronto, Ontario's provincial government announced early this month. The number of jobs was not disclosed either in the announcement or media coverage of it.
"Goldman Sachs has opened its newest Goldman Sachs Administration Services (GSAS) office in Toronto with Fund Accounting and Investor Servicing areas of its hedge fund administration operations," said the statement from the Ontario Ministry of Economic Development and Trade. "GSAS will begin operations with a full staff complement and intends to grow its business and Ontario personnel over the next five years."
GSAS assets under administration total $225 billion.
The statement also quotes Grant Jackson, a Goldman representative whose role isn't specified, saying, "We believe the talent pool in this region will enhance our efforts to provide the best service possible to the global hedge fund community."
The bank, which employs 31,495 people worldwide, opened its first Canadian office in Toronto in 1987. Another major player, UBS, chose Toronto as a base for its hedge fund administration services division in 2006.