SMBC, Julius Baer Among Firms Setting Up India Tech Centers

Global financial firms, including Sumitomo Mitsui Banking Corp. and Julius Baer Group, are planning to expand in India by setting up global capability centers, according to people familiar with the matter.

Japan’s Sumitomo Mitsui and Switzerland’s Julius Baer are joining US-based investment firms Charles Schwab Corp. and Vanguard Group in plans to hire at least 1,000 people collectively this year in cities including Chennai and Hyderabad, according to people, asking not to be identified discussing private plans.