UBS Joins Foreign Banks Expanding India Global Capability Hubs

UBS Group AG opened a new global capability center in the southern Indian city of Hyderabad, as foreign financial firms — including those from Wall Street — look to leverage local talent and technology in the world’s fastest-growing major economy.

The Swiss bank plans to add “2,000 professionals in the coming months” at the new facility, underscoring its commitment to India, it said in a statement Wednesday. The government of Telengana did not divulge UBS’s investment toward the facility, although global lenders and companies have poured billions in setting up these centers across India in the past few years.