HCL expands footprints in Andhra Pradesh

Deepthi | Myequity news | Date : 13-09-2018 18:10:00 IST

HCL SSHS (State Street HCL Services) Facility, a joint venture between HCL Technologies and US-based State Street Corporation today announced the opening of its state of the art IT Centre at Medha Tech Park in Ganavaram, Vijayawada.

Mr. Nara Lokesh, Hon'ble Minister for Panchayat Raj, Rural Development, Information Technology & Communications, Government of Andhra Pradesh graced the occasion as the Chief Guest. Mr Michael Brager, Chairman of the Board of State Street HCL India was also present on this occasion along with senior members from the HCL Leadership team.

Speaking at the Inauguration Mr. Nara Lokesh Honourable Minister for Panchayat Raj, Rural Development, Information Technology & Communications, Government of Andhra Pradesh said “I would like to congratulate State Street HCL Services and pleased to be part of their launch celebrations of the state-of-the-art IT center at Medha Towers. The Government is committed to economic development and providing more opportunities to the young workforce of the state. I am confident that the opening of this center will help unlock the talent potential of the state and offer great platform to local talent to pursue global opportunities.”

Set up in 2012, the JV offers high end financial services. The facility is spread over 63000 sq ft in Medha Tech Park, Ganavaram and is expected to create 1000+ high-end employment opportunities in the areas of Capital Markets - Middle & Back office for Custody, Fund Administration, Investment Management and Brokerage Services. Post graduates and Graduates in Commerce, Accountancy Finance will be recruited for these profiles. The center will cater to global clients of HCL Technologies.

Mr. Anoop Tiwari, Corporate Vice President, HCL Technologies said, "I would like to thank the State Government and the IT Minister Mr. Nara Lokesh for their support to HCL Technologies. We are confident that our expanding presence across Andhra Pradesh will boost employment and skill development opportunities for the youth of the state who will be able to access these opportunities in their home towns.”

About State Street HCL Services:

The Joint Venture with HCL was set up in 2012 across Chennai, Coimbatore and Manila and in the last 7 years there has been a steady growth with the employee strength crossing 4000 recently The operations of the JV are into high end financial services related to Capital Markets - Middle & Back office for Custody, Fund administration, Investment Management and Brokerage Services. These high end operations require deep knowledge in the Capital Market Operations.

About HCL Technologies:

HCL Technologies (HCL) is a leading global technology company that helps global enterprises  re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 41 countries and has consolidated revenues of US$ 8.0 billion, for 12 Months ended 30th June, 2018. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCETM Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business.

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