HYDERABAD: Asserting that the police in the city are very tough, IT & Industries Minister KT Rama Rao said Hyderabad is a no-nonsense city. It does not tolerate any kind of hatred, violence or nonsense with respect to law and order, he remarked.
Inaugurating Citco’s Centre of Excellence (CoE) in Hitec City on Tuesday, Rama Rao described Hyderabad as a beautiful city that welcomes all cultures with equal affability. The IT sector has come a long way since the formation of the State. The number of employees in the sector was 3.23 lakh then but it has grown to one million now, he said.
Citco’s CoE provides support in relation to fund and banking services for Citco and its international client base, helping both to operate more efficiently and effectively via Citco’s portfolio of award-winning proprietary technologies. The growing team also strengthens the resources of Citco’s operations across Asia, helping to support Citco’s other locations including Pune and Mumbai.
Jay Peller, Head of Fund Services, Citco Fund Services (USA) Inc., said: “After the move to Hyderabad two years ago, we are delighted that the construction of our new CoE is now complete. The state-of-the-art office will ensure we are well-positioned to support the growth of Citco not simply in the region, but also globally. We have seen significant worldwide demand for our fully-integrated ecosystem of bespoke technologies and white-glove, specialist asset services, so now that our new regional base is ready, we look forward to significantly and sustainably growing our team in India.”
Amit Verma, General Manager, Citco Group Services (India) LLP Hyderabad branch, said, “Hyderabad is becoming one of the region’s most prosperous economic hubs, so we are thrilled to have laid down roots here and we are proud to call it home to one of our CoEs. The region has unparalleled access to a growing base of agile, skilled talent.”
Growth of IT sector
The IT sector has come a long way since the formation of the State in 2014. The number of employees in the sector has grown from 3.23 lakh to one million now, Rama Rao said