The Hindu Business Line : UBS plans to invest $65 m in India service centre

India campus: The Chief Executive Officer of UBS India Service Centre, Mr Vipul Khanna, flanked by the Chief Financial Officer, Mr Clive Standish, and the Head-UBS-AG group offshoring, Mr Seth Cohen, at the UBS India Service Centre campus, which was inaugurated by the Andhra Pradesh Chief Minister, Dr Y. S. Rajasekhara Reddy, at Gachibowli in Hyderabad on Wednesday. —

Our Bureau

Hyderabad, July 4

Banking and financial services major UBS on Wednesday said that they plan to invest $65 million in India service centre and in creation of a business continuity facility in Hyderabad.

UBS AG today commissioned a new facility that has the potential to host 1,700 people located in the financial district near Hyderabad. The company maintained that they invested about $50 million last fiscal.

The Chief Financial Officer of UBS AG, Mr Clive Standish, said “the pace of growth at what is our first group wide service centre has been remarkable and it is proposed to add about 750 people during the year to further strengthen the nature and scope of business engagement.”

Addressing a press conference, Mr Standish said UBS India Service Centre compliments the existing hybrid offshoring and outsourcing model for operations around the world including initiatives such as the outsourcing of IT development work in India and China as well as plans to open an additional service centre in Poland in 2008.”

The Chief Executive Officer of UBS ISC, Mr Vipul Khanna, said the nature and scope of engagement of this centre is set to increase from providing business process outsourcing work to knowledge process outsourcing, wherein a lot of work related to business analytics has been added.

IT application

Most of the IT application development work of UBS is handled by third-party vendors. It is now proposed to take up strategic IT application development work at the Hyderabad centre. While a small business continuity centre is operational at the new facility, the second phase of the project is set for completion next year, would serve as a business continuity centre, Mr Khanna said.

“For UBS, India has become one of the promising markets witness to significant opportunities for growth. With corporate earnings reflecting more than 30 per cent growth and buoyancy, we expect India presenting immense opportunities both through helping companies in their organic growth but also in the process of mergers and acquisitions,” Mr Standish said.

The firm’s footprint continues to expand and UBS recently announced the acquisition of the Asset Management arm of Standard Chartered Mutual Fund business in India.

UBS is awaiting regulatory clearances for completion of the transaction, Mr Standish said.

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UBS plans to invest $65 m in India service centre