UBS opens its fifth office in India; close to 1,000 staff recruited

By Edil Corneille

UBS announced that it has opened its fifth office in India, in Hyderabad, underlining its commitment to the country. The workspace is located at Aquila by Phoenix in Gachibowli. In its initial phase, the new facility will provide UBS businesses with additional capabilities in finance, operations and research. In India, UBS currently operates from offices in Pune (Yerwada and Kharadi), Navi Mumbai (Airoli) and in the Bandra Kurla Complex in Mumbai.

Zurich-based UBS works with individuals, families, institutions, and corporations around the globe through its wealth management advisory, investment banking and asset management expertise, and its private and corporate banking services in Switzerland.

“UBS is in India for the long-term and has grown rapidly in the last five years with headcount increasing by 130% between 2018 and 2020. At the end of this year we will have almost 6,800 employees in the country,” said Harald Egger, Group Head Corporate Services and Chairman of UBS India.

In the last nine months, close to 1,000 talents have been strategically insourced or hired from the local talent pool in Hyderabad to be part of the finance and operations teams that will be based in the new office. They complement the finance and operations teams in Pune and Mumbai that already support several run-the-bank processes for the entire UBS Group.

According to a press release by UBS, the Indian talent pool is second-to-none in terms of quality and capabilities which helps further improve processes by simplifying delivery and oversight. Hyderabad is said to be one of the fastest-growing cities in India and is a global hub for education, technology and process expertise.