DTCC opens second Indian office in Hyderabad, Telangana

The Depository Trust & Clearing Corporation (DTCC) has opened a new office in Hyderabad, India, marking its second location in the country.

The new Hyderabad office follows the opening of DTCC's first Indian site in Chennai, established in 2008. Sri D. Sridhar Babu, the Honorable Minister for Information Technology, Electronics & Communications, Industries & Commerce, Telangana inaugurated the office, inaugurated the office. Lynn Bishop, DTCC's Managing Director and Chief Information Officer, and Renee LaRoche-Morris, DTCC's Managing Director and Chief Financial Officer, were also present at the inauguration.

Hyderabad is a hub for innovation, with several major financial services and technology firms present. The new office, which can accommodate 500 employees, strengthens DTCC's operational and business continuity capabilities. It will serve clients in the region and globally. Furthermore, the Hyderabad office will support DTCC's efforts to expand its technology workforce and further its focus on innovation in the financial services sector.

Lynn Bishop commented, "Today marks not just the opening of a new DTCC location, but the beginning of a new chapter in our technology modernization and business continuity efforts within the region. It's a testament to the company's vision and continued commitment to the global financial services industry. As we step into this new space, we thank all of those who were involved in opening the new office as we continue to foster innovation and mitigate risk across global markets."

Renee LaRoche-Morris stated, "The opening of the DTCC Hyderabad location marks an exciting milestone for our company. Not only does it demonstrate our commitment to the region, but it also enables us to advance our capabilities to best serve our clients. Hyderabad is a growing technology and innovation hub, and we view our latest office location as a key part of our innovation and business resilience strategy."

Shri D. Sridhar Babu expressed his congratulations: "On behalf of the Government of Telangana, I extend my heartfelt congratulations to DTCC on the opening of their office location in Hyderabad. This significant milestone further solidifies Telangana's position as an innovation hub. We are excited to see DTCC's continued growth in our vibrant city, and we look forward to further collaborating to create new opportunities for skilled professionals in the region."

DTCC's Chennai office currently has approximately 1,000 employees, 41 of whom have transferred to the new Hyderabad location. DTCC plans to recruit up to 500 employees for this new office and aims for at least 35% of the workforce to be female by 2027.