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August 2, 2022

BNY Mellon plans hiring spree in India

BNY Mellon is planning to increase its employee headcount in India as it looks to ramp up its operations in the country, reported ET.

The New York-based investment giant has been rapidly beefing up its India presence, adding 20% to its workforce in the country every year in the last few years.

BNY Mellon International Operations (India) head and managing director Sudish Panicker said: “More than just numbers, it is about the kinds of roles. It’s about having roles with more complexity and subject matter expertise and functional ownership.”

The company is currently said to employ 15,000 staff in the country, more than double its employee headcount in 2019.

According to BNY Mellon India Technology head Nitin Chandel, some of the technological functions of BNY Mellon’s recently launched fintech venture PershingX is being done out of India.

The company’s India centre comprises both operations and technology sides. Additionally, its global centre for compliance and finance are both situated in the country.

In April this year, the firm established a new capability centre in Chennai to bring together all of its product, operations and technology teams.

This facility was said to be BNY Mellon’s largest facility outside of North America and the single largest facility in the country.

The bank will focus on hiring freshers for both technology and operations roles in an attempt to meet the increased demand for talent in the country.

On average, BNY Mellon 10-15% of its new recruitments consist of campus hires. It plans to more than double campus hires for the operations team this year.

Chandel said: “We are among the leading banks that has custody in digital currencies, and we are working on areas like security specialists for crypto. These are the kind of roles that we are looking for in India.”

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