Northern Trust is to open a new office in Pune, western India, in the summer of 2016.
The hub will offer additional support to the company’s Asia-Pacific clients and adds to an existing unit in Bangalore, set-up back in 2006.
Currently US financial group, which provides of asset administration and asset management services to pension funds and other institutional investors, employs 3,600 people in India. Ten years ago that figure was 200.
“India offers a growing talent pool of highly educated individuals and the Pune office will play a key role in supporting our clients in the Asia-Pacific region,” said Northern Trust chairman and chief executive officer Frederick H. Waddell.
Mano Mathews has been named as head of the Pune office, reporting to Mosur Saisekar, head of Northern Trust’s operating services subsidiary in the country.
Mathews joined the company in 2009 and was most recently head of hedge fund services in Bangalore. He has 17 years of experience in financial services and during his career has worked in London and Sydney.
“We are pleased to continue the expansion of our operations in India,” added Saisekar. “This latest expansion in Pune will further drive our growth and presence in the region, ensuring we are well positioned to continue to support Northern Trust’s clients.”