US financial services firm Charles Schwab opened its first India technology capability centre in Hyderabad on 19 August 2026, and plans to scale the workforce there to around 2,000 employees by the end of 2027.
Schwab India runs out of a 3.45 lakh square foot facility in the Gachibowli IT corridor. Hiring will move in phases. The company is targeting roughly 500 employees in the first year before building to the 2,000 mark, according to a Telangana government statement cited by Reuters. As it scales, Schwab plans to bring some technology work currently handled by contractors in India in-house.
The centre will support Charles Schwab’s US business across technology development, engineering and operations, covering areas such as software development, analytics, digital operations and risk management.
Telangana IT and Industries Minister D Sridhar Babu inaugurated the facility alongside senior Schwab leaders, including Christopher Wyse, Pradeep Menon and Subba Perepa.
“Schwab India strengthens our ability to serve the 48 million account holders and 30,000 employees who rely on our technology every day. Direct investment in engineering talent here allows us to build with greater speed and quality, and it reflects our confidence in Hyderabad as a long-term technology hub for our company,” said Christopher Wyse, Managing Director and Chief Corporate Affairs Officer, Charles Schwab
Founded in 1971, Charles Schwab is one of the largest brokerage and wealth management firms in the US. Its global headcount stood at about 32,100 at the end of 2024. The Hyderabad build-out marks the company’s formal entry into India through its local entity, Charles Schwab Services India Private Limited.
The timing runs against the grain. Several financial firms are trimming headcount as they fold AI into software and back-office work. Standard Chartered has said roles at its India back-office centres would be affected by a restructuring programme, and Wells Fargo has said AI could eventually reduce parts of its workforce. Schwab, by contrast, is building an India team from scratch.
Financial services companies including JPMorgan Chase, Wells Fargo, Barclays and American Express account for about a quarter of India’s GCC workforce. Telangana alone hosts more than 475 global capability centres and expects to add another 100 over the next year, Sridhar Babu told Reuters.
