BlackRock to hire 1,200 employees in India to expand AI and support hubs

The world's largest asset manager is particularly looking for engineers and data experts to support its AI capabilities and expand its iHubs

Don't want to miss the best from Business Standard?

The world’s largest asset manager BlackRock Inc is set to expand its presence in India by hiring nearly 1,200 people across its support hubs in Mumbai and Gurugram, Moneycontrol reported on Wednesday. The new hires will increase BlackRock’s headcount in these cities by about a third, adding to the existing 3,500 employees.

 

Expanding AI and data capabilities

BlackRock’s hiring drive is aimed at strengthening its artificial intelligence (AI) capabilities and expanding its iHubs - its innovation and support centres that handle investment research, risk management, financial engineering, business operations, and data analytics. The company is particularly looking for engineers and data experts to support these functions.

 

The firm is also acquiring a global capabilities centre (GCC) in Bengaluru, which has around 1,500 employees, through its proposed purchase of data firm Preqin. This acquisition is expected to further bolster its technology and data-driven operations.

 

BlackRock’s office expansion in Mumbai

To accommodate its expanding workforce, BlackRock has leased additional office space in Mumbai’s Goregaon from Oberoi Realty Ltd. The deal, valued at nearly Rs 4 billion ($45.9 million), was first reported by The Economic Times.

 

India’s growing role in global financial services

India has become a key hub for global financial firms, with multinational corporations expanding their operations beyond traditional back-office work to high-value services. The country's GCC market is projected to reach $110 billion by 2030, employing over 4.5 million people, according to Ernst & Young. India already houses over 1,700 GCCs, accounting for 17 per cent of such centres globally, as highlighted in India's Union Budget 2025.

 

Several global banks and asset managers, including JPMorgan Chase, HSBC, Apollo Global Management, and Goldman Sachs, have significant GCC operations in India. Goldman Sachs, for instance, employs around 9,000 people across its Bengaluru and Hyderabad centres.