The Citco group of companies, the global alternative investment assets servicer with $1.5 trillion in assets under administration, has announced the launch of a new office in Hyderabad as part of its ongoing expansion in India.
The Hyderabad office plans to hire more than 1,200 employees over the next two years, and will operate as a Citco Centre of Excellence, utilising Citco’s own state of the art technologies and providing a range of fund administration services for the global alternative investment industry.
According to a statement, “Citco’s Hyderabad Centre of Excellence will provide a range of fund servicing, banking, and technology support functions for Citco and its international client base. The team based there will provide specialist technology support, helping asset managers to operate more efficiently and effectively via Citco’s portfolio of award-winning proprietary technologies. The new team will also strengthen the resources of Citco’s operations across Asia, helping to support Citco’s other locations in the region which include Pune and Mumbai.”
Jay Peller, Head of Fund Services at Citco, said, “The launch of our new Centre of Excellence in Hyderabad ensures we are well-positioned to support the growth of the region, amid the significant demand we continue to see for our fully-integrated ecosystem of bespoke technologies and white-glove, specialist asset services. With this state-of-the-art, high-spec campus as our new regional base, we look forward to significantly and sustainably growing our team in India, and as a result, developing new solutions to enable alternative investment managers in the region and elsewhere to scale effectively and efficiently.”
Amit Verma, General Manager at Citco (India), said, “This as an incredibly exciting opportunity to further cement Citco’s global reputation and reach within the alternative investments sector. Hyderabad has emerged as an internationally recognised technology hub, and with this new office we have access to a growing base of agile, skilled technology talent. We are committed to investing in the right people and giving them the right tools to succeed, and we look forward to establishing this world-class Centre of Excellence that will deliver transformative and creative solutions to the industry’s most fundamental challenges.”
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