Charles Schwab leases 3.4 lakh sft in Hyderabad

US financial services company Charles Schwab has leased about 340,000 sft of office space in Hyderabad, with capacity to accommodate around 2,000 employees, according to documents sourced from real estate analytics platform Propstack.

The brokerage firm had earlier incorporated a new legal entity, Charles Schwab Services India (Schwab India), and established an employment centre in Hyderabad.

“The new Hyderabad office enhances Schwab’s access to a deep pool of highly skilled talent while advancing the firm’s goals around scale, efficiency, risk management, and operational excellence,” a company spokesperson said.

Pradeep Menon has taken over as managing director and country head of Charles Schwab India, moving from his earlier role as CEO and country head of HSBC SDI.

According to Raja Seetharaman, cofounder of Propstack, the move signals a strategic expansion for the US brokerage major in India. “Charles Schwab’s Hyderabad GCC marks a strategic pivot for the company, tapping into the city’s rapidly expanding BFSI talent pool for high-value technology, analytics and digital operations. The centre is projected to create about 2,000 jobs over the next 24 months,” he said.

The Hyderabad centre is expected to support the firm’s global operations across technology, analytics and digital capabilities while strengthening collaboration with its international teams.