UK-based alternative investment firm Citco opens new office in Hyderabad
The Citco group of companies (Citco), a UK-based alternative investment assets servicer, has opened a new office in Hyderabad, Telangana in southern India.
The group, which has $1.5 trillion in assets under administration, said that the opening of the new office in HITEC City is part of its ongoing expansion in India.
Over the next couple of years, Citco Hyderabad office located at Salarpuria Sattva Knowledge City will look to recruit over 1,200 employees.
It will operate as a Citco Centre of Excellence and will leverage Citco’s technologies to offer a variety of fund administration services for the alternative investment industry.
Jay Peller — Head of Fund Services at Citco said: “The launch of our new Centre of Excellence in Hyderabad ensures we are well-positioned to support the growth of the region, amid the significant demand we continue to see for our fully-integrated ecosystem of bespoke technologies and white-glove, specialist asset services.
“With this state-of-the-art, high-spec campus as our new regional base, we look forward to significantly and sustainably growing our team in India, and as a result, developing new solutions to enable alternative investment managers in the region and elsewhere to scale effectively and efficiently.”
The alternative investment assets servicer said that it will move into a new building in Salarpuria Sattva Knowledge City in Madhapur after construction is completed in the third quarter of next year. Until then, the company’s Hyderabad team will operate from a nearby incubation site.
The Citco Hyderabad office will offer a variety of fund servicing, banking, and technology support functions for the company and its international client base.
The Hyderabad team will provide specialist technology support to help asset managers efficiently and effectively operate through Citco’s portfolio of proprietary technologies. It will also bolster the resources of Citco’s operations in Asia, and support the company’s other locations in the region, including Mumbai and Pune.
Amit Verma — General Manager at Citco (India) said: “This is an incredibly exciting opportunity to further cement Citco’s global reputation and reach within the alternative investments sector. Hyderabad has emerged as an internationally recognized technology hub, and with this new office we have access to a growing base of agile, skilled technology talent.
“We are committed to investing in the right people and giving them the right tools to succeed, and we look forward to establishing this world-class Centre of Excellence that will deliver transformative and creative solutions to the industry’s most fundamental challenges.”