BlackRock hiring 1,200 employees in India to boost AI capabilities
What's the story
BlackRock, the world's largest asset manager, is poised to expand its Indian workforce significantly by hiring nearly 1,200 employees, as per Bloomberg News.
The recruitment drive is aimed at strengthening the company's artificial intelligence (AI) capabilities in the country.
The expansion plan will mainly focus on BlackRock's two support hubs, or iHubs, in Mumbai and Gurugram.
Growth strategy
Expansion targets Mumbai and Gurugram
The two cities are major financial centers in India, with Gurugram being in proximity to the national capital New Delhi. The new hires will bring the total headcount to around 3,500 across the two locations.
Talent acquisition
New hires to include engineers, data experts
The next recruitment drive by BlackRock will be centered around hiring more engineers as well as data experts. This comes as part of the company's plan to bolster its AI capabilities in the country.
However, it has not yet revealed the exact roles or qualifications it would be looking for in these positions.
Acquisition impact
Acquisition of Preqin includes Bengaluru center
Along with its expansion in Mumbai and Gurugram, BlackRock is also slated to acquire a global capabilities center in Bengaluru.
The deal is part of its proposed acquisition of investment data provider Preqin, Bloomberg has reported.
The Bengaluru center currently employs some 1,500 staff members who will become part of BlackRock's workforce after the acquisition.