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April 27, 2022

BNY Mellon sets up new capability centre in India

American banking major BNY Mellon is set to ramp up its operations in India with the opening of a new capability centre in Chennai, reported TOI.

Situated at Embassy Splendid Tech Zone, the new facility is said to be BNY Mellon’s largest facility outside of North America and the single largest facility in the country.

The firm, which had three smaller facilities in Chennai, plans to shift all of its product, operations and technology teams into the new capability centre.

The first phase of the eight-floor centre is now operational with more than an area of 3.73 lakh ft² space. The remaining two floors are expected to be open to employees by the third quarter of this year.

The facility is built to house around 6,000 people.

BNY Mellon has around 15,000 employees in India with 1.36 million ft² across Chennai and Pune.

The firm is said to be currently recruiting new resources for roles including data science, native cloud developers, full stack developers, data analysts, digital assets, financial reporting, financial reporting and credit risk.

BNY Mellon Operations India head and managing director Sudish Panicker told TOI: “In 2021, we hired close to 20% of the total India workforce and the pace of hiring will continue this year.

According to BNY Mellon Technology India head and managing director Nitin Chandel, the bank’s India team is involved in the complete client lifecycle.

The new facility will provide flexibility and learning opportunities while creating an environment for innovation, Nitin added.

BNY Mellon India has been pursuing a hybrid work model in the country since April. Its new facility is designed to facilitate its ‘Future of Work’ model which will see managers working with their teams to set a mix of in-office and remote work.

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