US financial services firm Charles Schwab sets up GCC in Hyderabad

The 3.45 lakh sq ft Schwab India centre will support the US business through technology, engineering and operations, with headcount targeted at around 2,000 by end-2027

US- based financial services firm Charles Schwab on Tuesday marked its entry into India with the opening of Schwab India, a 345,000-square-foot technology capability centre in Hyderabad.

 

The centre will support Charles Schwab’s US business through technology development, engineering talent and operational capabilities. The company plans to scale its Hyderabad workforce to around 2,000 employees by the end of 2027. Charles Schwab’s entry adds another critical piece to the city’s ecosystem that is evolving beyond a traditional BFSI GCC cluster.

 

According to government officials, Hyderabad now spans brokerage and trading, investment and wealth management, market infrastructure, risk, analytics and cybersecurity. It includes Charles Schwab, Deutsche Börse, Vanguard, JP Morgan Chase, Bank of America, Goldman Sachs, State Street, Wells Fargo, UBS and Invesco.

   

D Sridhar Babu, Hon’ble Minister for Information Technology, Electronics & Communications, Industries & Commerce, and Legislative Affairs, Government of Telangana said, “Hyderabad is home to nine of the world’s top 10 brokerage and trading institutions, covering the full stack of capital markets capabilities and representing roughly $40 trillion in assets under management. This sits within a broader ecosystem of more than 475 GCCs, giving global companies access to a deep pool of technology talent and capabilities.”

 

Babu also said that while Mumbai is India’s trading and brokerage capital, but Hyderabad is increasingly building the technology that powers trading and brokerage for the world. From wealth and asset management to market infrastructure, AI and risk technology, Hyderabad now has capabilities across the entire financial markets value chain.

 

Pradeep Menon, Country Head and Managing Director, Schwab India said, “Schwab India is an important step in Charles Schwab’s next phase of global growth. Hyderabad offers deep technology talent, strong infrastructure, and a mature ecosystem for capability centers. We are building a center here that will contribute to Schwab’s technology capabilities for years to come, and we are proud to be part of Hyderabad’s growing technology community.”

 

The Hyderabad centre will help Schwab strengthen its in-house technology capabilities and provide employees  opportunities  to develop expertise across technology domains. It will support the design, development and delivery of technology solutions for Charles Schwab’s US business and the millions of clients who rely on its platforms.

 

Christopher Wyse, Managing Director, Chief Corporate Affairs Officer, Charles Schwab said, “Schwab India strengthens our ability to serve the 48 million account holders and 30,000 employees who rely on our technology every day. Direct investment in engineering talent here allows us to build with greater speed and quality, and it reflects our confidence in Hyderabad as a long-term technology hub for our company.”