BlackRock, the world’s largest asset manager, plans to hire nearly 1,200 people to expand its support hubs in India, according to a Bloomberg News report. The expansion aims to enhance the company’s artificial intelligence capabilities and strengthen its presence in the country’s financial and technology sectors.
Expansion of iHubs in Mumbai and Gurugram
The new hires will increase BlackRock’s total workforce in India to approximately 3,500 employees. The expansion focuses on the firm’s two existing support hubs, known as iHubs, located in Mumbai, India’s financial capital, and Gurugram, near New Delhi. The hiring will prioritise engineers and data experts to bolster BlackRock’s technology-driven initiatives.
In addition to the Mumbai and Gurugram expansions, BlackRock is set to inherit a global capabilities centre in Bengaluru through its proposed acquisition of data provider Preqin. This centre will accommodate around 1,500 employees, further strengthening the company’s foothold in India’s IT sector.
Strategic Focus on AI and Data Analytics
The expansion highlights BlackRock’s commitment to leveraging artificial intelligence and data analytics for financial services. The firm aims to develop cutting-edge solutions in India, positioning itself at the forefront of technological advancements in asset management.
BlackRock has yet to respond to requests for comments regarding its hiring plans and expansion strategy. However, the move underscores the company’s increasing reliance on India as a key global hub for financial and technological innovation.
As BlackRock deepens its presence in India, the move is expected to enhance job opportunities and further integrate the country into the global financial ecosystem.
(With Reuters inputs)