Hyderabad, India – Citizens Financial Group, a major financial institution from the United States, has chosen Hyderabad to launch its first Global Capability Centre (GCC) in India. This move is part of a partnership with tech company Cognizant. The new centre is expected to create 1,000 high-skilled jobs by March 2026 and will support Citizens’ push to improve its digital services.
The launch event in Hyderabad was attended by key officials including IT and Industries Minister Shri Duddilla Sridhar Babu, Special Chief Secretary Jayesh Ranjan, and IT Advisor Sai Krishna. Senior leaders from Citizens and Cognizant were also present.
Minister Sridhar Babu said the decision to set up the GCC in Hyderabad shows the city’s growing reputation as a tech and innovation hub. He added that Telangana aims to become the first Indian state to contribute $1 trillion to the national economy. The minister credited the state’s success to strong leadership, good infrastructure, smart policies, and solid partnerships between the government and private companies.
The new centre will help Citizens improve its technology, enhance its customer services, and develop new financial products. It is a key part of the bank’s plan to rely less on external vendors and build more of its capabilities in-house.
Michael Ruttledge, Chief Information Officer at Citizens, said Hyderabad has a strong talent pool and a thriving tech environment. He mentioned that the new GCC will help the bank launch better banking products faster and improve customer experience.
Hyderabad is already home to many global banks and financial services firms, including Goldman Sachs, JPMorgan Chase, Citi, Bank of America, and Wells Fargo. Citizens now joins this growing community of major players in the city.
Nageswar Cherukupalli, a senior leader at Cognizant, said that Hyderabad is now a global centre for innovation in the banking and finance sector. He noted that over 350 GCCs have been established in the city, with new ones being added every week.
Cognizant, which employs nearly 57,000 people in Hyderabad, will support the new Citizens centre using its advanced AI tools and platforms. These include solutions in cloud computing, data management, cybersecurity, and automation.
Surya Gummadi, President for the Americas at Cognizant, said this partnership is about more than just building an office — it’s about creating a culture of innovation that can reshape the future of financial services.
Hyderabad’s appeal is backed by strong numbers. The city has over 350 GCCs across banking, tech, healthcare, and life sciences. It saw the highest growth in commercial space use in India last year and plans to add 200 million square feet of top-quality office space by 2030. The airport also recorded the highest passenger growth among metros in 2024, and the retail sector leased 1.8 million square feet in the past year.
This new GCC is a major step forward for Telangana’s vision of a future driven by technology, talent, and trust. With strong government support and global partnerships, Hyderabad is becoming a top destination for innovation and value creation.
