Broadridge Fin to invest $6mn in Hyd

Broadridge Financial Solutions Inc, a provider of technology-based outsourcing solutions to the financial services industry, will invest $6 million (approximately Rs 24 crore) in setting up its facility in Hyderabad.

The company also plans to ramp up its headcount in Hyderabad from the present 500 to 750 by the end of March 2008.

Broadridge, a recent spin-off of US-based ADP Brokerage Services Group, is currently housed at the ADP centre in Hyderabad. The company plans to shift to its new facility by September-October this year.

"With the setting up of our new facility here, we are looking at continuing to leverage India's R&D, finance and BPO professionals," Richard Berke, corporate vice-president and chief human resource officer of Broadridge Financial Services Inc, told mediapersons here on Wednesday.

Broadbridge's professionals in Hyderabad would be engaged in technology development and software re-engineering among others, in the areas of investor communications, securities processing, and clearing and outsourcing solutions.