Arcesium, provider of technology and service solutions to asset managers, has decided to expand its operations in the State.
The expansion plans involve increasing workforce and enhancing facilities to support the company’s growing needs. As part of the plans, the company will hire 500 high-end tech talent in the city in the next two years. The move is expected to create additional employment opportunities in the region and solidify Hyderabad’s reputation as a premier destination for global tech companies.
The team headed by Chief Minister A. Revanth Reddy, presently on a visit to the United States, held detailed discussions with Arcesium chief executive officer Gaurav Suri and senior team members late on Monday evening. The discussions focussed on expansion of Arcesium’s Hyderabad office, which was the company’s first overseas location outside of its headquarters. The Hyderabad centre is playing a crucial role in supporting Arcesium’s global operations, particularly in areas of data management and data strategy initiatives.
According to an official release, Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, analytics platform used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms.
Mr. Gaurav Suri said the rich talent pool in Hyderabad and its strong infrastructure make it an ideal location for the company’s international operations. “We are excited to deepen our commitment to the region by expanding our presence and leveraging local expertise to enhance our data solutions and services,” he said.
The Chief Minister extended his support for the expansion and highlighted the State government’s focus on fostering growth in the IT sector multi-fold.
“We are thrilled that Arcesium is expanding its operations in Hyderabad. This expansion not only strengthens the company’s global capabilities but further reinforces Hyderabad’s position as a leading hub for technology and innovation in the BFSI space,” the Chief Minister said assuring support to the firm in helping it succeed in all its strategic objectives.
Mr. Sridhar Babu stressed about the importance of collaboration between the government and private sector in driving technological advancement. “Our government is committed to providing necessary support and infrastructure to ensure success for companies like Arcesium,” he said.
Published - August 06, 2024 10:35 pm IST
