State Street, the world’s largest asset management company, is expanding in Hyderabad and creating 5,000 new jobs. This is a big investment in the Banking, Financial Services & Insurance sector in the state. Hyderabad will soon host the second-largest office for State Street after its Boston headquarters.
State Street met with Minister KT Rama Rao in Boston and announced that some global roles and heads for Accounting, HR Mobility, and others will be housed in Hyderabad. The center in Hyderabad has gained prominence and is one of the vital centers supporting State Street’s growth story. The job roles will be primarily in Fund management, Custodian services, and Asset management. The center will also have software engineers and data scientists who will be experts in Data Analytics, Artificial Intelligence, and other emerging technologies supporting the fund management for State Street.
State Street Corporation had announced the opening of a new centre of excellence in Hyderabad in November 2017. It was initially perceived to expand to about 1,000 employees to support their asset management, custodial, and other services for the institution. However, State Street has outgrown its expectations and is now adding over 5,000 jobs in Hyderabad. The meeting was attended by Aunoy Banerjee, Executive Vice President and Head of Corporate Services and Investments for State Street Corporation along with Jacob Rosenfeld, Global Head of Tax, Senior Vice President at State Street, and Jeevan Ramapriya, Public Policy and Government Affairs.
