Citizens Financial Group to set up its GCC in Hyderabad with Cognizant

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New York Stock Exchange-listed Citizens Financial Group, a United States-based premier financial institution, is setting up its global capability centre (GCC) in Hyderabad, in strategic partnership with information technology services firm Cognizant.

 

The centre is expected to scale to a headcount of 1,000 information technology and data & analytics professionals by March 2026, and will play a key role in strengthening Citizens’ technology capabilities across enterprise platforms, customer experience, and data-driven decision-making.

 

“Our partnership with Cognizant on the establishment of a GCC in Hyderabad is core to our strategy to scale digital transformation, strengthen innovation capabilities, reduce reliance on vendor partners, and improve time to market for new-age banking products,” said Michael Ruttledge, chief information officer and head of enterprise technology & security at Citizens Financial Group.

 

The Hyderabad GCC is designed as a next-generation innovation hub to support Citizens’ digital transformation and technology modernisation journey. The launch event was held in Hyderabad in the presence of Duddilla Sridhar Babu, minister for information technology, electronics, communications, industries, and commerce, & legislative affairs, Government of Telangana.

 

The GCC is designed to help Citizens more quickly and effectively foster innovative solutions for its customers. It will also serve as an innovation hub, implementing cutting-edge technologies and fostering a culture of continuous learning and development.

 

Hyderabad has emerged as one of the world’s leading destinations for GCCs, hosting over 350 GCCs across banking, financial services and insurance (BFSI), healthcare, and technology. The year 2024 marked a milestone, with the city attracting nearly one GCC every week.

 

“Our growth is clearly visible across metrics — Hyderabad’s Rajiv Gandhi International Airport recorded the highest passenger traffic growth among all Indian metro airports in 2024. Commercial space absorption soared by 56 per cent, the highest in the country, while our retail sector leased 1.8 million sq ft last year. This boom is backed by a clear vision: to not just build infrastructure, but to build the future. Hyderabad is on track to add 200 million sq ft of Grade A office space by 2030,” said Babu.

 

He further added that the state is aiming to transform Hyderabad from a GCC hub into a Global Value Centre, a place where companies lead with innovation, build intellectual property, and drive product development.

 

Nageswar Cherukupalli, senior vice-president and business unit head (BFSI), Cognizant, said, “Hyderabad is already home to leading BFSI GCCs, including Goldman Sachs, Citi Group, JPMorgan Chase, Bank of America, and Wells Fargo. Citizens Financial Group now joins this distinguished list as the next top global bank to establish a GCC in the city. We are proud of our partnership with Citizens Bank and of further expanding that collaboration to help set up their GCC in Hyderabad.”

 

“The establishment of Citizens’ first GCC in Hyderabad underscores our shared commitment to driving innovation and transformation in the financial services sector,” said Surya Gummadi, president – Americas, Cognizant. He also added that Cognizant plans to create a banking and financial services innovation centre to help clients foster innovation, facilitate collaboration, and improve operational security and compliance, data and analytics, cybersecurity, and customer experience.

 

Cognizant’s total headcount in Hyderabad stands at nearly 57,000, making it one of the city’s largest technology employers.