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.