HYDERABAD: The Telangana IT ministry on Tuesday announced ongoing discussions with US-based SEI (NASDAQ:SEIC), a leading global provider of technology and investment solutions, regarding the establishment of a Global Capability Centre (GCC) in Hyderabad.
This announcement followed a meeting between IT and Industries Minister D Sridhar Babu and SEI’s senior leadership, on Tuesday, where the potential for collaboration was explored.
The proposed GCC aims to create high-skill engineering and financial jobs over the next three years, aligning with the state’s ambition to become a global hub for the Banking. Financial Services and Insurance (BFSI) sector.
SEI is considering Hyderabad as a strategic operations hub, building on its existing regional presence with approximately 5,000 employees across technology, operations, and asset management.
Sridhar Babu emphasised the government’s commitment through its Young India Skill University’s (YISU) BFSI programme, which aims to enhance the local talent pool and provide global opportunities, further strengthening the ecosystem.
“Telangana’s exceptional talent in the financial sector is crucial for attracting global BFSI GCCs to Hyderabad. The city has established itself as a premier destination, hosting global capability centres for major players like Bank of America, JP Morgan, Goldman Sachs, Morgan Stanley, Wells Fargo, among others. We are grateful for the company’s interest in Telangana and our future-ready workforce,” the minister said.
In a joint statement, SEI’s Global Chief Technology Officer Zachary Womack and Global Head of Operations David Langdale stated: “Hyderabad is becoming an attractive location for a Global Capability Centre, thanks to its rich talent pool, advanced infrastructure, and business-friendly environment fostered by the Telangana government. This centre could play a vital role in supporting our global digital engineering strategy and enhancing our capabilities in key markets.”