US financial services firm Charles Schwab has leased about 340,000 square feet of office space in Hyderabad, with capacity to accommodate about 2,000 employees, according to documents sourced from real estate analytics platform Propstack.The brokerage firm had earlier incorporated a new legal entity, Charles Schwab Services India (Schwab India), and set up a recruitment center in Hyderabad.“The new Hyderabad office enhances Schwab’s access to a large pool of highly skilled talent while advancing the company’s goals of scale, efficiency, risk management and operational excellence,” a company spokesperson said.Pradeep Menon has assumed the role of Managing Director and Country Head of Charles Schwab India, moving from his previous role as CEO and Regional Head of HSBC SDI.
According to Raja Seetharaman, co-founder of Propstack, the move signals a strategic expansion of the US stock brokerage major in India. “The Charles Schwab Center in Hyderabad in the GCC represents a strategic hub for the company, leveraging BFSI’s rapidly expanding talent pool in the city in high-value technology, analytics and digital operations. The center is expected to create approximately 2,000 jobs over the next 24 months,” he said.The Hyderabad center is expected to support the company’s global operations across technology, analytics and digital capabilities while enhancing collaboration with its international teams.