JP Morgan sets shop in Hyderabad
Hyderabad, the capital of Andhra Pradesh state is once again emerging as a favourite destination of the IT and ITeS sector after a brief lull when the city was desrted because of Separate Telangana agitation. After Facebook, financial services giant JP Morgan is all set to put up its global service centre in the city as part of its plans to ramp up its back office operations in India.
JP Morgan is initially setting up a technology and operations centre in the city’s IT hub at Madhapur with plans to hire close to 400 people to begin with. The centre is expected to become operational this year. The company has also identified a property at the Raheja MindSpace SEZ in Hi-Tec City for expanding its operations to include other services like research and treasury services.