Sun Life Financial's GCC to hire 1k people in India, Philippines in 2 years

Hiring comes at a time when GCCs in India expanding. According to the latest Nasscom-Zinnov report, India had 1,580 unique GCCs as of FY23

Canadian financial services company Sun Life Financial’s global capability centre (GCC) aims to hire about 1,000 people in India and the Philippines in the next two years as part of its expansion plans. Of this, about 700 people are expected to be hired for its India centre. It has also rebranded itself as Sun Life Global Solutions (SLGS) from its earlier avatar as Sun Life Asia Service Centres (ASC). 
 

The hiring announcement comes at a time when GCCs in India are in an expansion mode. According to the latest Nasscom-Zinnov report, India housed 1,580 unique GCCs as of FY23. A recent EY report also predicted that by 2030, India will have 2,400 GCCs and the total number of new GCC set-ups every year can jump up to 115 from the current 70. By 2030, the Indian GCC industry is expected to have a headcount of over 4.5 million people from the current base of about 1.9 million.

“This significant expansion presents a distinct opportunity for skilled workforce in India and Philippines to collaborate with Sun Life, effectively showcasing their exceptional capabilities and immense potential,” the company said in a statement.

With this strategic evolution, SLGS will also “reaffirm” its position as a key talent hub for technology, operations, and client care centre. In addition, it will also focus on its expertise in key knowledge skills like actuarial, finance services, legal services, risk and compliance monitoring, the company said.

"It is truly a privilege to be the enablers driving the organisational purpose of Sun Life in India and Philippines,” says Tarun Sareen, Managing Director, Sun Life Global Solutions.

Sun Life Global Solutions plays a key role in driving the organisation’s enterprise strategy. They provide services and solutions to all pillars – Canada, Asia, US, and Asset Management and Corporate functions.

The journey of Sun Life Global Solutions (formerly Sun Life Asia Service Centre) started in 1991 in Philippines and expanded to the India market in 2006. A microcosm of Sun Life, over the years, the GCC has emerged as a talent and innovation hub providing technology and business Services to Sun Life businesses globally.