London Stock Exchange Group to set up tech centre in Hyderabad

The announcement was made after IT and Industries Minister KT Rama Rao, who is currently on a tour of the United Kingdom, met with Anthony McCarthy, Group CIO, LSEG, in London

Hyderabad: In a major boost to the banking, financial services and insurance sector in Telangana, the London Stock Exchange Group PLC (LSEG) has announced its decision to set up a Technology Centre of Excellence in Hyderabad, generating employment for about 1,000 people in a year.

The announcement was made after IT and Industries Minister KT Rama Rao, who is currently on a tour of the United Kingdom, met with Anthony McCarthy, Group CIO, LSEG, in London.

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Following the announcement, a Memorandum of Understanding was signed between the Telangana government and LSEG. The MoU was signed by Jayesh Ranjan, Principal Secretary (IT and Industries) and McCarthy.

“The establishment of the Technology Centre of Excellence by London Stock Exchange Group (LSEG) in Hyderabad is a significant boost to the Banking, Financial Services, and Insurance (BFSI) sector in the city. The move is expected to create ample employment opportunities and drive growth in the industry,” according to an official statement.

The London Stock Exchange Group is a leading global financial market infrastructure and data provider, operating in 70 countries worldwide and serving customers in 190 countries. With over 2,000 issuers across 100 countries and a benchmark of $161 linked to FTSE Russell indexes, LSEG continues to be a major player in the global financial industry.

E Vishnu Vardhan Reddy, Special Secretary (Investment Promotion & NRI Affairs), Konatham Dileep, Director (Telangana Digital Media Wing) and Chief Relations Officer Amarnath Reddy Atmakuri were present.