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UBS reduces outsourcing to IT services firms, opens facility in Hyderabad – Spectraa Real Estate Advisory
Real Estate News

UBS reduces outsourcing to IT services firms, opens facility in Hyderabad

Posted on by Jogin Valson
29
Dec

Swiss multinational investment bank UBS has shifted work in-house to its own centres across three cities in India, even as it continues to work with India-based IT services providers such as Wipro, HCL Technologies and Cognizant.

“We are still partners with Wipro, Cognizant and HCL. We have split the things that we wanted to keep inhouse and the things we wanted from partners. It has reduced a little bit with the Hyderabad office,” said Harald Egger, group head – corporate services and chairman of UBS India.

“We (have) reduced the outsourcing in the past five years, we now have our own workforce with strategic partners,” he added.

Egger said its newly opened office in Hyderabad will focus on group operations and finance.

Hyderabad is perceived as the back-office centre, covering middle office operations, client lifecycle services, trade lifecycle controlling services, clearing settlements, analytics, and regulatory reporting, said Egger.

For group finance, the Hyderabad team will also look at robotics.

UBS Hyderabad office currently has nearly 1,000 employees and has a capacity to expand workforce to 1,500-1,600 employees.

The company recently elevated Uday Odedra as the country head for India and made Egger the India chairman.

“My role is from a strategic standpoint for the next five years. On the other side, it is also important why UBS has created this role,” said Egger, adding that India would have “a very close connection with Zurich”.

The company said it had started with more supportive types of roles in the country and moved into top notch technology roles over the last three years. Currently, UBS employs nearly 6,700 people across three cities.

Many of its employees in India are now working on core platforms for the investment bank and other group functions. “That was the transformational shift which we did in the last few years,” Egger said.

For more info. and source visit here

Jogin Valson

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