US asset manager BlackRock is looking to hire around 1,200 new employees in India, reported Bloomberg News citing sources.
This move is aimed at bolstering the company’s artificial intelligence (AI) capabilities and is set to expand its two support hubs, known as iHubs, located in Mumbai as well as Gurugram.
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The recruitment drive is expected to increase the current workforce of approximately 3,500 in these cities, by bringing in more engineers and data experts.
BlackRock’s iHubs focus on value-added offerings such as investment research, risk management, and data analytics, with many areas using AI.
In addition to India, the asset manager has iHubs in Atlanta, Edinburgh and Budapest.
BlackRock has not provided an official comment on the hiring plans for India.
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By GlobalDataFurthermore, BlackRock’s proposed acquisition of data provider Preqin could see the inheritance of a global capabilities centre in Bengaluru, stated the news agency.
The proposed £2.55bn Preqin acquisition deal is currently facing UK antitrust probe, over concerns that it may reduce competition.
Recently, The Economic Times reported that BlackRock has leased office space in the Mumbai suburb of Goregaon to establish its Global Capability Center.
In Q4 2024, BlackRock registered a profit of $1.67bn, a 21% increase from Q4 2023, while its total assets reached $11.6tn.
Net income for the full year of 2024 was $6.37bn, up 16% from a year ago.
