U.S. firm SEI evaluates Hyderabad for setting up GCC

SEI, a U.S. firm, evaluating Hyderabad for global capability center, creating high-skill jobs, reinforcing BFSI sector.

U.S. firm SEI (formerly Simulated Environments Inc.), that is focused on technology and investment solutions that connect financial services industry, is evaluating Hyderabad to set up a global capability centre (GCC).

The Nasdaq listed entity is in discussions with Telangana government. The proposed GCC will create high-skill engineering and financial jobs over the next three years as well as help reinforce the State’s position as a global hub for the banking, financial services and insurance (BFSI) sector, Industries and IT Minister D.Sridhar Babu’s office said in a release on Tuesday (October 15, 2024) following SEI’s leadership meeting him.

“We are grateful for the company’s interest in Telangana and our future-ready workforce. Telangana’s exceptional talent pool in the financial sector is pivotal in attracting global BFSI GCCs to Hyderabad,” Mr.Sridhar Babu said.

The Minister said this citing how Hyderabad has established itself as a global hub for the BFSI sector and hosts the GCC of the top players such as Bank of America, JP Morgan, Goldman Sachs, Morgan Stanley, Wells Fargo among others. “Through our Young India Skill University’s BFSI programme, we are working with SEI with the goal of enhancing our talent pool with global opportunities, further strengthening our growing ecosystem,” he said.

With a global workforce of around 5,000 employees across technology, operations, and asset management, SEI is exploring Hyderabad as a strategic operations hub, building upon its regional presence, the Minister’s office said.

The SEI’s leadership team that met Mr. Sridhar Babu on the proposal to establish GCC included Zachary Womack, Global Chief Technology Officer; David Langdale, Global Head of Operations; Deepak Bhardwaj, Chief Data Officer; Meenakshi Meel, Head of Development for SEI’s Private Banking and Wealth Management division; and Shanoo Maniar, Delivery Head for SEI India.

The GCC could play an important role in supporting SEI’s digital engineering strategy and enhancing its capabilities in key markets, Mr. Womack and Mr. Langdale said.