UBS To Invest $65 Million To Expand India Operations

UBS AG, the Swiss-based global financial services firm, plans to invest $65 million in two years to expand its operations in Hyderabad, its chief financial officer Clive Standish announced.

He made the announcement after the inauguration of UBS India Service centre campus at Financial District, Nanakramguda, on the city’s outskirts.

Standish said UBS AG had already invested $50 million in India to provide KPO (knowledge process outsourcing) for research and analytics, BPO (business process outsourcing) for transaction and data processing, and IT for infrastructure support.

Standish also announced that a second campus by first half of 2008 would increase the offshoring capacity in India by an additional 750 seats. The second campus will also come up in Financial District.

“India has been an attractive destination for investment bankers world over,” he said.

Chief Minister Y.S. Rajasekhara Reddy, who inaugurated the UBS campus, assured all assistance to the firm in expanding its operations.

IANS