American financial services company Charles Schwab will set up its first Technology Development Centre in Hyderabad. The financial services major, with operations across globe, including US and UK, is one of the largest banks in the United States by assets.

Telangana CM Revanth Reddy and IT and Industries Minister D Sridhar Babu visited Charles Schwab’s headquarters in Dallas, as part of their US tour. The decision to set up a Technology Development Centre was conveyed during the meeting. Senior executives Dennis Howard and Rama Bokka from Charles Schwab held discussions with Telangana delegation led by CM Revanth Reddy.

“Exciting news for Hyderabad. Charles Schwab has chosen our city as the location for its first Technology Development Centre in India. This important decision comes after productive discussions at Schwab’s headquarters in Dallas,” said a tweet from Telangana CMO.

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“The government is dedicated to guiding Schwab through the necessary formalities, ensuring quick access to local talent for a rapid ramp-up. Schwab senior executives Dennis Howard and Rama Bokka, expressed their confidence and appreciation for the proactive support from the government, highlighting the promising potential of this collaboration,” further read the post from Telangana CMO.

Telangana Government will reveal all the details relating to the size of investment and the new jobs Charles Schwab is set to create in Hyderabad, after getting final approval from the American financial services major.

Charles Schwab is publicly traded on New York Stock Exchange and has a revenue of USD 18.84 billion. Charles Schwab proposed Technology Development Centre in Hyderabad, will become one more prominent addition to Hyderabad’s buzzing IT ecosystem.

Dnr