The Hindu : Andhra Pradesh / Hyderabad News : Wells Fargo facility opened

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Thursday, Mar 22, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Wells Fargo facility opened

Special Correspondent

Fifty employees to begin work by this month-end

INVESTOR-FRIENDLY: Chief Minister Y. S. Rajasekhara Reddy inaugurating Wells Fargo at Cyberabad on Wednesday . At right is Kerri Grosslight, Executive VP and at left is Aveek Mukherjee, MD ( Hyderabad operations). — PHOTO: P.V. SIVAKUMAR

HYDERABAD: Chief Minister Y. S. Rajasekhara Reddy opened the technology development centre of Wells Fargo, a diversified financial services company, here on Wednesday. The wholly-owned subsidiary was set up at Raheja Mind Space IT Park at Madhapur. It would accommodate 550 employees. While 50 employees would begin work by this month-end in this facility, the headcount will be enhanced to 400 within a year, according to Aveek Mukherjee, Managing Director of Wells Fargo India Solutions Pvt Ltd. Stating that the company short-listed four cities in India and finalised Hyderabad considering the availability of infrastructure facilities and talent pool. The company was working with the State Government to acquire some land and set up its own facility. Wells Fargo is a 150-year-old company with a workforce of 158,000 employees. Wells Fargo, which is into banking, insurance, investments, mortgage and consumer finance has more than 6,000 branches in the United States. Mr. Mukherjee said the company was also working with an institution to serve the community in Andhra Pradesh. He did not divulge further details. The Chief Ministerpromised that the Government would extend necessary help .

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