K M Dayashankar
After meeting with Chief Minister A. Revanth Reddy and IT minister D. Sridhar Babu – Arcesium, a leading provider of tech solutions for asset managers, announces major plans to expand capacity in Hyderabad
Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, and analytics platforms used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms
The firm’s expansion plans solidify Hyderabad’s reputation as a premier destination for global tech firms
The government assures total support to help Arcesium succeed in its goals
As part of expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years
HYDERABAD, AUGUST 06, 2024: Telangana Chief Minister A. Revanth Reddy, and his team, including Industries and IT minister D. Sridhar Babu, closed on a successful capacity expansion agreement with Arcesium, a leading provider of technology and service solutions for asset managers.
The Team Telangana had detailed discussions with a high-level delegation led by Gaurav Suri, CEO, Arcesium, and senior team members, here late on Monday.
The discussions focused on the expansion of Arcesium’s Hyderabad office, which was the company’s first overseas location outside of its headquarters. The Hyderabad centre plays a crucial role in supporting Arcesium’s global operations, particularly in areas of data management and data strategy initiatives. As part of its expansions, the company will hire 500 high-end tech talent in Hyderabad in the next two years.
Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, and analytics platforms used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms.
Speaking after the announcement, Mr Gaurav Suri, CEO, Arcesium, said, “The rich talent pool in Hyderabad and its strong infrastructure have made it an ideal location for our international operations. We are excited to deepen our commitment to the region by expanding our presence and leveraging local expertise to enhance our data solutions and services.”
Chief Minister Revanth Reddy expressed his support for the expansion, highlighting the state government’s focus on fostering growth in the IT sector multi-fold. “We are thrilled that Arcesium is expanding its operations in Hyderabad. This expansion not only strengthens the company’s global capabilities but further reinforces Hyderabad’s position as a leading hub for technology and innovation in the BFSI space,” the Chief Minister said. He assured total support to the firm in helping it succeed in all its strategic objectives.
IT Minister D Sridhar Babu echoed these sentiments, emphasizing the importance of collaboration between the government and private sector in driving technological advancement. “Our government is committed to providing necessary support and infrastructure to ensure success for companies like Arcesium. We look forward to strengthening our partnership and ensuring the positive impact of this expansion on Hyderabad,” he said.
The expansion of Arcesium’s Hyderabad office will involve increasing the workforce and enhancing facilities to support the company’s growing needs. This move is expected to create additional employment opportunities in the region and solidify Hyderabad’s reputation as a premier destination for global tech companies.
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