Arcesium announces expansion of Hyderabad facility, add on 500 jobs

New York: Chief Minister A Revanth Reddy, and his team, including Industries and IT minister D Sridhar Babu, closed on a successful capacity expansion agreement with Arcesium, a leading provider of technology and service solutions for asset managers.

As part of its expansion, the company will hire 500 high-end tech talent in Hyderabad in the next two years.

Team Telangana had detailed discussions with a high-level delegation led by Gaurav Suri, CEO of Arcesium, and senior team members, here late on Monday.

Data management and data strategy initiatives

The discussions focused on the expansion of Arcesium’s Hyderabad office, which was the company’s first overseas location outside of its headquarters. The Hyderabad centre plays a crucial role in supporting Arcesium’s global operations, particularly in areas of data management and data strategy initiatives.

Arcesium, which was launched as an independent entity backed by DE Shaw group and Blackstone Alternative Asset Management (BAAM), delivers advanced data, operations, and analytics platforms used by financial institutions, including hedge funds, banks, institutional assets managers and private equity firms.

Speaking after the announcement, Gaurav Suri said, “The rich talent pool in Hyderabad and its strong infrastructure have made it an ideal location for our international operations. We are excited to deepen our commitment to the region by expanding our presence and leveraging local expertise to enhance our data solutions and services.”

CM Revanth Reddy expressed his support for the expansion, highlighting the State government’s focus on fostering growth in the IT sector multi-fold.

CM presents Telangana as a worldwide investment destination

In a separate event, CM Revanth Reddy enthralled the top CEOs and business honchos at an official roundtable hosted by the Consulate General of India, New York, over a working luncheon late Monday here, emphasising the business-readiness of Telangana to fit in as the missing jigsaw puzzle piece in the America, Inc. search for a ‘China plus One strategy.’

Organised and hosted by the Indian CG, NY, over 20 chairpersons and CEOs representing well-known companies from varied sectors, including pharma, IT, technology, EV, GCC, biotech, and shipping sectors, among others, attended.

After a brief presentation on the history and future plans for the development of industrial clusters in Telangana and Hyderabad, CM Revanth said, “I am here to speak from my heart and to share my State’s dreams and my people’s aspirations. Since this is my first visit to the USA as the chief minister of Telangana, I hope to take back home as many dollars from all of you as possible.”

Showcasing the strengths of Hyderabad and Telangana as a top investment destination, he said, “We are now a powerhouse in software, life-sciences and Pharma, with a strong base in Aerospace, Defense, Electronics and other sectors. We helped the world overcome Covid-19 by making millions of vaccines for people worldwide.”

“We have great infrastructure, wonderful talent and offer the best policy support from our government for investors. Hyderabad, an over 425-year-old city built by the Nizams, is interestingly almost the same age as the United States of America,” the CM said.

‘We are building a Future City’

Speaking about the ambitious projects which offer sui generis opportunities for investment into the future and promise exponential growth, the chief minister said, “We are building a fourth city – the Future City. It will be India’s answer to the future. It will be India’s first Net Zero Carbon city. Future City will become a hub for AI, medical tourism, sports, software and pharma. It is like a second round of gold rush. We are creating a New Industrial Policy to match our dreams. We will make it very easy to start a new business and expand your existing business in Telangana. I keep saying - Telangana means business. I mean it.”

IT minister D Sridhar Babu made an elaborate pitch on the current strengths of Hyderabad and Telangana for a variety of industry sectors and detailed the policies that would enable the chief minister’s vision to make Telangana a viable alternative to China for manufacturing and develop Hyderabad into one of the top 10 cities in the world.