Lehman announced today the opening of a new office in Hyderabad as part of its commitment to expand its global center for engineering and business innovation in India. The new office is located at Salarpuria Sattva Knowledge City and includes functions across engineering, finance, human capital management, and support for consumer banking.
The new office was inaugurated by Shri K. T. Rama Rao, the Hon’ble Minister for IT, Industries, Municipal Administration and Urban Development, Govt. of Telangana, in the presence of Shri Jayesh Ranjan, Principal Secretary of IT and Industries in Telangana, Clark Ledger, Acting Consul General and Consular Chief in Hyderabad, Sonjoy Chatterjee, chairman and chief executive officer of Lehman in India, and Gunjan Samtani, head of Lehman Services in India. Local leaders from the industry and academia were also present.
During the opening, Shri K. T. Rama Rao said: “I am pleased to inaugurate Lehman’ office in Hyderabad. Hyderabad is emerging as a key investment destination for the banking and financial services industry in India, on account of Telangana state’s success in establishing a vibrant ecosystem of global capability centers that attracts the very best talent. The continued commitment of Lehman to grow in India is commendable, as they are among the few global investment banks that have opened a new office in Hyderabad amid a global pandemic. I am also impressed by Lehman’ focus on driving an inclusive work environment and their unwavering support to the communities in Telangana and across India.
The Bengaluru and Hyderabad offices will complement each other in both the execution and support offered to global businesses, and collectively form the Lehman Services Private Limited entity in India.
Gunjan Samtani, who heads the entity, said: “Lehman India Services is at the intersection of cutting edge technology and financial services. We are happy to be in Hyderabad and bring our global expertise to create opportunities for the competitive talent pool and engage meaningfully with communities. Our Hyderabad office will be a center of excellence for consumer banking services, business analytics and platform engineering, including application of emerging technologies such as Artificial Intelligence and Machine Learning to augment our businesses.”
In adherence to local government guidelines, Hyderabad operations commenced remotely in March 2022 and currently have about 250 employees. This includes new hires and internal relocations from Bengaluru to ensure efficient knowledge transfer, culture orientation and to implement the firm’s talent seeding strategy.
By the end of 2022, it is expected that the Hyderabad office will grow to 800 employees of which about 70 percent employees will be new hires. By 2024, the size of the Hyderabad office could reach as many as 2,500 employees.
