Big Boost to Hyderabad's BFSI. 5k new jobs likely

Hyderabad: World's largest asset management company ‘State Street’ is expanding big in Hyderabad, to create 5,000 new jobs.

State Street, the world's largest asset management company, is expanding big in Hyderabad by adding 5,000 new jobs. The proposed investment is a big thrust to the BFSI (Banking, Financial Services & Insurance) sector in the state and Hyderabad will soon host the second-largest office for State Street after its Boston Headquarters.

The announcement was made after the leadership team of State Street met Minister KTR in Boston, USA. In the meeting with the Minister the State Street team mentioned that some of the global roles and heads for Accounting, HR Mobility, and others will be housed in Hyderabad and the center in Hyderabad has increasingly gained prominence. Today it figures as one of the vital centers supporting their growth story.

The job roles will be primarily in the areas of Fund management, Custodian services, and asset management. The center is going to have a slew of software engineers, and data scientists who will be experts in the areas of Data Analytics, Artificial Intelligence, and other emerging technologies supporting the fund management for state street.