US Financial Services Firm Charles Schwab Opens Technology Capability Centre In Hyderabad

US financial services company Charles Schwab on Wednesday announced the opening of Schwab India, a new 3.45 lakh square foot technology capability centre here, with plans to scale its Hyderabad workforce to around 2,000 employees by the end of 2027.

As Schwab India scales, the company plans to bring select technology capabilities currently supported by contractors in India into its in-house operations in Hyderabad, a release said.

Schwab India will support Charles Schwab’s US business through technology development, engineering talent and operational capabilities, it further said.

Telangana IT Minister D Sridhar Babu inaugurated the facility alongside senior leadership from Charles Schwab, including Christopher Wyse, Managing Director and Chief Corporate Affairs Officer; Pradeep Menon, Managing Director and Country Head, Charles Schwab India; and Subba Perepa, Managing Director, Charles Schwab’s Global Capability Centre, among other senior leaders. Sridhar Babu said Hyderabad is home to nine of the world’s top 10 brokerage and trading institutions.

From wealth and asset management to market infrastructure, AI and risk technology, Hyderabad now has capabilities across the entire financial markets value chain, he said, adding Charles Schwab’s decision to establish its presence here is a strong validation of this capability and the depth of the ecosystem we have built.

"Our ambition is to build Hyderabad as a Global Capital Markets and WealthTech Hub, where global financial institutions, technology companies, fintechs, academia and subject matter experts come together to build the next generation of global finance," the minister said.

Pradeep Menon said Schwab India is an important step in Charles Schwab’s next phase of global growth. "We are building a centre here that will contribute to Schwab’s technology capabilities for years to come," he said.

Christopher Wyse said, “Schwab India strengthens our ability to serve 48 million account holders and 30,000 employees who rely on our technology every day."