Fidelity International to hire 800 people at Bengaluru facility

Global investment and asset management company Fidelity International launched its Bengaluru office today. The company plans to hire 800 people for technology and operations roles in the next 18 months, a company executive said. This would be the company’s third India office after Gurugram and Mumbai which already employ about 4,500 people.

The new office will complement the existing two Indian offices and provide access to new pool of talent. Over the next one and a half years, the company will start inducting hires and appointing a new head for the facility. Fidelity International’s India offices host teams working on technology, operations, research support, client servicing, and cybersecurity, along with shared services across general counsel, finance, and human resources. 

The tech teams at Fidelity International’s India offices are involved in the complete lifecycle of the development of greenfield applications, right from ideation to maintenance, along with offering support to existing applications, Sunil Garg, director of technology at Fidelity International told TechCircle. “We hope to extend a similar set of capabilities in Bengaluru with a focus on web development, mobile development services, data, and analytics. There are a few functions that may be a high priority in terms of initial focus, for example, cyber skills. Bengaluru will hopefully offer us a better depth and breadth of talent in some of those areas.”

To be sure, Fidelity International operates in more than 25 countries with $728.6 billion in total assets. Its clients range from large corporates, financial institutions, insurers and wealth managers, and individuals. The company doesn’t serve the Indian market but has global capability centres at three locations.

Garg also said that the company is leveraging artificial intelligence for its solutions and services. It has undertaken a number of proof of concepts across business lines, where different elements of AI are being used, including generative AI. “The initial results have been very encouraging. Our AI Centre of Excellence along with our innovation team is evaluating these tools to help us adopt generative AI at scale.”