US financial services major Charles Schwab is strengthening its presence in India with the lease of about 340,000 sq ft of office space in Hyderabad. The new facility is expected to accommodate nearly 2,000 employees, according to documents sourced from the real estate analytics platform Propstack.
The brokerage firm had earlier incorporated a new legal entity, Charles Schwab Services India (Schwab India), and set up an employment centre in Hyderabad as part of its broader expansion strategy in the country.
“The new Hyderabad office enhances Schwab’s access to a deep pool of highly skilled talent while advancing the firm’s goals around scale, efficiency, risk management, and operational excellence,” a company spokesperson said.
Leadership for the India operations has also seen a key development. Pradeep Menon has taken over as managing director and country head of Charles Schwab India. He moved into the role from his earlier position as CEO and country head of HSBC Securities and Data India.
According to Raja Seetharaman, cofounder of Propstack, the move reflects a strategic expansion by the US brokerage firm in India. “Charles Schwab’s Hyderabad GCC marks a strategic pivot for the company, tapping into the city’s rapidly expanding BFSI talent pool for high-value technology, analytics and digital operations. The centre is projected to create about 2,000 jobs over the next 24 months,” he said.
The Hyderabad GCC will support the company’s global operations across technology, analytics and digital capabilities. It is also expected to strengthen collaboration with Schwab’s international teams.
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