BlackRock Expands India Presence: Plans To Hire 1,200 People

Asset management firm BlackRock is planning to hire 1,200 people in order to expand its two support hubs, according to people familiar in the matter.

According to a Bloomberg report, the world's largest asset manager wants to build out artificial intelligence capabilities in India with the expansion, the report said.

The centres are called iHubs and are located in the country's financial hubs Mumbai and Gurugram, which is located near the national capital New Delhi.

Reportedly, the new hires are expected to increase the total headcount to roughly 3,500 in the two cities, and include more engineers and data experts.

The company is also inheriting a so-called global capabilities center in India's IT hub Bengaluru, through its proposed deal to acquire data provider Preqin, Bloomber added in its report. That center is going to have roughly 1,500 staff members.

Blackrock did not immediately respond to a Reuters request for comment.