UBS's new GCC in Hyderabad to create 3,000 jobs
What's the story
Swiss banking giant UBS has opened a new Global Capability Center (GCC) in Hyderabad. The move is part of the company's strategy to strengthen its presence in India and create nearly 3,000 jobs over the next two years. The state-of-the-art facility underscores Hyderabad's growing reputation as a global hub for high-value financial technology and operations.
Minister's remarks
Minister on UBS's decision
Telangana's IT and Industries Minister D Sridhar Babu, at the inauguration of UBS's new center, emphasized Hyderabad's growing appeal as a destination for top-tier financial institutions. He said, "The decision of UBS to establish its new center in Hyderabad reflects the confidence global industries place in our institutional stability and progressive policy framework." The minister also highlighted this development as a long-term partnership that enhances the India-EU-Switzerland corridor.
Expansion plans
What did the company say?
Matthias Schacke, Head of India Service Company and Group Operation & Technology Office India at UBS, said Hyderabad is an important growth location for the company. He cited the city's strong talent pool, supportive policies, as well as excellent infrastructure as key factors in this decision. Schacke also hinted at future plans to expand their tech capabilities including AI while improving operations in Hyderabad.