BlackRock, the world’s largest asset manager, is set to significantly expand its operations in India by hiring approximately 1,200 new employees. This strategic expansion aims to bolster the company’s capabilities in artificial intelligence, according to sources cited by Bloomberg News.
The expansion will focus on enhancing the two existing support hubs located in Mumbai and Gurugram. These centers, known as iHubs, are central to BlackRock’s mission of leveraging advanced technologies and data analytics. By increasing its workforce, the company intends to enhance its engineering and data expertise in these crucial areas.
Once the expansion is complete, BlackRock’s total headcount in Mumbai and Gurugram will reach approximately 3,500 employees. This marks a significant increase in resources dedicated to these locations, aimed at strengthening the company’s technological and data-oriented capabilities.
In addition to expanding its current hubs, BlackRock will also acquire a global capabilities center in Bengaluru. This acquisition is part of a proposed deal to take over data provider Preqin. The Bengaluru center is anticipated to host approximately 1,500 staff members, further consolidating BlackRock’s presence in India’s key technology and IT hubs.
Efforts to reach BlackRock for comments on this expansion have not yielded any response, as reported by Reuters. However, industry analysts view these developments as a strategic move to enhance the company’s competitive edge in the global asset management sector.
BlackRock’s decision to augment its workforce in India underscores its commitment to leveraging technology and data to drive growth. By establishing a robust presence in major Indian tech hubs, the company aims to fortify its global operations and maintain its leadership position in asset management.
