View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
27 April, 2022

Global banking major BNY Mellon opens new office in Chennai

US-based financial institution BNY Mellon has opened a new office in Chennai, India, with the capacity to accommodate more than 4,000 staff.

By Cara Lyttle

BNY Mellon, a US-based banking institution, has opened a new 70,605m2 office in Chennai, India. It is located at the Embassy Splendid TechZone and has the capacity to accommodate more than 4,000 employees. The new office is the company’s largest facility in India as well as its largest outside of North America. BNY Mellon already has three smaller locations in Chennai and plans to consolidate its existing product, operations and technology teams at its new facility.

Sudish Panicker, managing director and head of operations for BNY Mellon India, commented on the company’s investment: “In 2021, we hired close to 20% of the total India workforce, and the pace of hiring will continue this year. Our current attrition rate is lower than the industry average and the rate of our ‘returnees’ has also been encouraging.” He added “about 7% of external hires have returned for another stint at the company, compared with an industry average of 4.5%.”

BNY Mellon was founded in 2007 and is headquartered in New York. The company operates in 35 countries and currently has $4.45trn in assets under custody and/or administration as of March 2022.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Data, analysis and deep insights on foreign direct investment delivered to you
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU