Citco opens new permanent Center of Excellence in Hyderabad

Hyderabad: Citco, a global alternative investment asset servicer with over $1.8 trillion in assets under administration, has announced the opening of its permanent Center of Excellence (CoE) office in Hyderabad.

The new office, located in the Opel Building in Salarpuria Sattva Knowledge City, marks a significant milestone for Citco’s operations in the region and is expected to support the company’s ongoing expansion.

The inauguration ceremony took place on Tuesday and was attended by esteemed guests, including Kalvakuntla Taraka Rama Rao, minister of Information Technology and industries and commerce, and Jayesh Ranjan, principal secretary (industries and commerce and IT).

Jay Peller, head of fund services, Citco Fund Services (USA) Inc., expressed his excitement about the new office, and said, “After the move to Hyderabad nearly two years ago, we are delighted that the construction of our new Center of Excellence is now complete. The state-of-the-art office will ensure we are well-positioned to support the growth of Citco not simply in the region, but also globally.”

The expansion in Hyderabad also strengthens Citco’s operations across Asia, providing additional resources to support its other locations in the region, including Pune and Mumbai. Amit Verma, general manager, Citco Group Services (India) LLP Hyderabad branch, highlighted the significance of Hyderabad as an economic hub, and said, “Hyderabad is becoming one of the region’s most prosperous economic hubs, so we are thrilled to have laid down roots here and are proud to call it home to one of our CoEs.”

KTR praises Hyderabad’s ecosystem and talent pool

On the occasion, Telangana IT minister KTR said, “Hyderabad is a beautiful city that welcomes and assimilates people from all cultures. We have a no-nonsense approach when it comes to dealing with hatred, violence, or any other form of law and order issues. We take pride in our ecosystem which includes world-class educational and academic institutions, as well as innovative hubs.”

He added, “With the world’s largest Innovation Campus coming up next to you, you are surrounded by hundreds of startups and young talent. You have chosen wisely, but I have a request for you. Citco has 3,500 people in Manila, 2,500 in Toronto, and 1,500 in other locations. Hyderabad is home to the world’s largest campuses of Amazon and the second-largest campuses of Microsoft, Meta, Apple, Google, Uber, Micron, Salesforce, and Qualcomm. Let’s make Citco’s second-largest headquarters in the world in Hyderabad. Let’s work together to make that happen.”

Citco is a leading provider of asset servicing solutions to the global alternative investment industry, offering a full suite of middle-office and back-office services, including treasury and loan handling, daily NAV calculations and investor services, corporate services, regulatory and risk reporting, banking solutions, and tax and financial reporting services.

Citco initially established its CoE in Hyderabad in September 2021, operating from a temporary incubation office in HITEC City. The move to a permanent facility reflects the company’s commitment to the region and its growing team, which provides support in fund and banking services for Citco and its international client base. The CoE leverages Citco’s portfolio of award-winning proprietary technologies to enable more efficient and effective operations for the company and its clients.