Swiss banking and financial services giant UBS on Wednesday announced that it has opened a new Global Capability Centre (GCC) in Hyderabad. With this new centre, UBS plans to hire nearly 3,000 professionals over the next two years, the company said in a statement.
Most of these roles will be managed through natural attrition or early retirements, as the bank aims to limit the social impact, Reuters claimed citing CEO Sergio Ermotti.
Expansion plan announced earlier
It builds on plans announced last year to double local headcount by adding 1800 roles in two years. The announcement was made in January 2025 by Egger, after he met Duddilla Sridhar Babu, Telangana’s IT and industries minister. The meeting took place on the sidelines of a TEPA investment event organised by Confederation Suisse and Switzerland Innovation at the Zurich Innovation Park.
“We are pleased to deepen our presence in Telangana, where we can continue to leverage these strengths to drive our growth and contribute to the evolving economic landscape of the region,” Egger said.
The company said the new, state-of-the-art facility further boosts Hyderabad’s growing reputation as a global hub for high-value financial technology, operations, and GCC leadership.
Telangana IT minister welcomes move
At the inauguration event, Minister D Sridhar Babu said Hyderabad has become a preferred destination for some of the world’s leading financial institutions. He added that UBS expanding its presence in the city highlights Hyderabad’s credibility as a global centre for talent and innovation.
“The decision of UBS to establish its new centre in Hyderabad reflects the confidence global industries place in our institutional stability and progressive policy framework. We see this as a long-term partnership that strengthens the India-EU-Switzerland corridor and adds meaningful value to the global financial services landscape,” the Minister said.
Matthias Schacke, Head India Service Company and Group Operation & Technology Office India, said, “Hyderabad continues to be an important growth location for UBS, thanks to its strong talent pool, supportive policies, and excellent infrastructure. We’re looking forward to further expanding our tech capabilities, including AI, while enhancing our operations footprint in the location.”
UBS presence across India
UBS already operates offices in Pune, Navi Mumbai, and Hyderabad. Several global financial firms – including JPMorgan Chase and Citi – are expanding their India operations beyond traditional back-office work. They are now focusing more on areas such as technology development, risk management, product development, data analytics, and artificial intelligence, according to a Bloomberg report.
Cities like Hyderabad, Bengaluru and Pune have attracted fresh investments as global banks look to benefit from India’s strong engineering talent and relatively affordable real estate. The top six US banks together employ around 150,000 people in their GCCs in India, while Goldman Sachs and Morgan Stanley have more employees in India than in any other country outside the United States, the report mentioned.