Hyderabad Becomes Second Largest Site for StateStreet Boston, Adding 5K Jobs in AI, Data Analytics, and Emerging Tech

StateStreet, a prominent American financial institution and one of the world's largest asset management companies with over $40 trillion under management, is making significant strides in Hyderabad, India. Telangana's IT & Industries Minister, KT Rama Rao, announced the expansion, highlighting that StateStreet will create 5,000 new jobs in the city.

This development solidifies Hyderabad as the second largest presence for StateStreet, following its headquarters in Boston. Minister KTR expressed pride in this accomplishment while meeting with the financial giant's top executives in Boston.

Notably, StateStreet's expansion in Hyderabad goes beyond just job creation. The company is actively recruiting for exciting positions in AI augmentation, Data Analytics, and emerging technologies. Additionally, Hyderabad will house global roles for accounting, HR, and other essential functions.

Established in 1792, StateStreet has a long-standing history in the American financial industry. It entered the Indian market by setting up operations in Bengaluru and Mumbai before expanding to Hyderabad in late 2017. At that time, the company acquired a substantial 2.3 lakh sq ft space in Hitech City, Hyderabad's IT hub, to establish its presence in the region.

StateStreet's decision to expand and invest significantly in Hyderabad speaks to the city's growing prominence as a major hub for the financial and IT sectors. The move aligns with the company's strategic vision to tap into the skilled workforce and emerging technologies available in the region.

By expanding its base in Hyderabad, StateStreet further solidifies its commitment to innovation, growth, and global excellence in financial services. The move is expected to boost the city's economy, create more job opportunities, and enhance its standing in the global financial landscape.