Charles Schwab Opens Technology Centre in Hyderabad, Plans 2,000 Jobs by 2027

U.S. financial services firm Charles Schwab has inaugurated a new technology capability centre in Hyderabad, announcing plans to expand its workforce at the facility to 2,000 employees by 2027.

Telangana IT and Industries Minister D. Sridhar Babu inaugurated the 3.45 lakh sq ft facility of Schwab India on Wednesday. The centre is set to support the firm's U.S. business through engineering talent, technology development, and operational capabilities. Over time, the company plans to transition select work currently handled by India-based technology contractors directly to Schwab employees in Hyderabad.

The company stated that recruitment will take place in phases. The existing headcount of 200 employees will expand to approximately 500 in the first year before reaching 2,000 by next year.

Speaking at the launch, Minister Sridhar Babu highlighted Hyderabad's growing stature in building technology that powers global trading and brokerage operations. He noted that the city now possesses capabilities across the entire financial markets value chain, including wealth and asset management, market infrastructure, artificial intelligence, and risk technology.

Sridhar Babu stated that Charles Schwab's decision to set up operations in Hyderabad validates the depth of the ecosystem developed by Telangana. He added that the state aims to establish Hyderabad as a global capital markets and wealthtech hub bringing together financial institutions, technology firms, fintech enterprises, academia, and industry experts.

According to the Minister, Hyderabad is currently home to nine of the world's top 10 brokerage and trading institutions, representing roughly $40 trillion in assets under management. These firms form part of a wider ecosystem of more than 475 global capability centres operating in the city.

Pradeep Menon, Country Head and Managing Director of Schwab India, said the organisation is building a centre that will contribute to Schwab's technology capabilities for years to come.

Christopher Wyse, Managing Director and Chief Corporate Affairs Officer of Charles Schwab, noted that Schwab India strengthens the company's capacity to serve the 48 million account holders and 30,000 employees who rely on its technology daily.