Charles Schwab selects Hyderabad for its first Technology Development Center in India

Hyderabad: US-based finance giant Charles Schwab will set up its first technology development centre in India in Hyderabad. The announcement came after a meeting between senior Schwab executives and a delegation from Telangana led by Chief Minister A. Revanth Reddy and IT minister D. Sridhar Babu, at Charles Schwab's headquarters in Dallas on Thursday.

"We are delighted to announce that Charles Schwab has chosen Hyderabad as the prospective location for its first technology development centre in India," said Revanth Reddy in a media statement. The delegation's discussions with Schwab executives, including Dennis Howard and Rama Bokka, were described as fruitful and encouraging.

The government has pledged to assist Schwab through the formalities to swiftly establish its presence in Hyderabad. This support aims to ensure rapid access to the necessary talent pool, facilitating a quick ramp-up of operations.

Schwab's executives expressed confidence and enthusiasm about the venture, praising the proactive support from the government. They view this collaboration as a promising indicator of a successful partnership.

Charles Schwab is awaiting final approvals before announcing detailed plans for the upcoming centre. Once approved, a dedicated team will be sent to India to officially establish the Schwab technology centre in Hyderabad.

This development further cements Hyderabad's status as a prime destination for global technology and BFSI companies.