We are in India for its talent base, says StoneX after inaugurating its new office in Bengaluru

Initially, the company had only one support function for its payments unit in India and now it has over 40 different department arms that are based out of India.
We are in India for its talent base, says StoneX after inaugurating its new office in Bengaluru

BENGALURU: Nasdaq-listed StoneX, which recently opened a 550-seater office in Bengaluru, said the company has been growing exponentially in the country in terms of its employees with almost 40% y-o-y, and the company is in India because of the market and its talent base.

Headquartered in New York, the financial services company celebrates 100 years of its existence this year and it employs over 4,300 people. It has been in India since 2019 and employs over 600 people.

The Group relies on its India teams for building its payments platform and the team also provides access to data for its trading desks worldwide. Greg Kallinikos, APAC CEO, who was in Bengaluru recently, told The New Indian Express that India has been at the forefront in anything and everything that touches on technology, "whether it's the efficiency of our front end or the back end."

For the quarter ended March 31, 2024, the company's operating revenues stood at $818.2 million. Apart from Bengaluru, the company plans a 270-seater office in Pune and is expected to be ready in September. The group has also established an office in the GIFT city to trade in precious metals.

Initially, the company had only one support function for its payments unit in India and now it has over 40 different department arms that are based out of India.

Kallinikos said India is not a centre that just delivers the order, but it plays a key role in terms of innovation. Abbey Perkins, Chief Information Officer, of StoneX.com said, "This is a growing firm. We are a hiring firm and we are permanently here and our commitment is incredibly strong into this market."

Manu Dhir, General Manager, India, said the company started off in India with one function, moved to three and now we are running 40 out of India.

“We've just been growing exponentially in terms of the employees almost 40% year on year and we continue to see that growth because there's so much demand,” he said.

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The New Indian Express
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