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BNY Mellon, a global investment company, is focussed on leveraging India’s emerging new-age skill sets and developing digital talent for the company’s competitive advantage in the global markets, a top official said.
India, from a talent perspective, offers rich skills around both data and operations, and a time could come when India-based teams develop and support products/services for clients in the global markets, Sudish Panicker, Head of BNY Mellon International Operations (India), told BusinessLine.
Panicker is responsible for the operations groups of BNY Mellon in India. “In India, we primarily support services and focus on driving competitive solutions, innovating to create value for our clients, and help improve their experience. We are now focussed on workforce for the future that could better handle new-age technologies by scaling our people on their digital savviness quotient,” said Panicker.
BNY Mellon India, which celebrated the 35th anniversary of its representative office in India last week, has four entities that are focussed on serving mainly global clients.
The Indian operations have the largest workforce for the company outside of North America, and the youngest workforce in terms of demographics. In all, BNY Mellon India has over 13,500 people on its rolls in India.
As of September 30, BNY Mellon delivers investment management services in 35 countries. The global investment services major had $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management.
Digital skills
Panicker said BNY Mellon’s Indian entities are developing capabilities to support clients globally through skills in data and client services, as global companies increase their focus on these aspects.
BNY Mellon recognises the need to develop talent and the importance of having people with digital skills.
“We strongly believe that our growth in India is about scaling on our ability to deal with complexity, developing domain expertise, and innovating. It will help us serve clients as their needs evolve. We are focussed on how can we serve clients with less manual intervention, and technology will certainly play a key role here,” he said.
In India, BNY Mellon is hiring people with digital skills so that they can help transform operations. “BNY Mellon’s Head of Digital, Roman Regelman, recently spoke at the Singapore Fintech Festival about why institutions that possess superior data and that engender absolute trust come out as industry leaders. We understand that if data is the new oil, the banks which organise and integrate the data into their services to the biggest benefit of clients will be the institutions that will reap the greatest value,” said Panicker.
“The goal is to work on products and solutions linked to data,” he added.
BNY Mellon currently operates out of two Indian cities – Pune and Chennai. Asked if there are plans to expand to other cities, Panicker said: “Our intent is to stay within these two cities. We continue to balance our operations within Chennai and Pune.”
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