Morgan Stanely, the New York-based global financial services company which already has more than 10,000 employees in India, is now planning to expand its India team further.
More people will be hired for its Mumbai and Bengaluru global capacity centres, according to ET. Its India workforce has grown by 20 per cent since since 2021. Most of these employees have been hired from the NITs, IITs and IIMs of India. Most of the new hires belong to STEM fields.
The global head of HR at Morgan Stanley has revealed that the Company’s global centres employ about 22,000 to 23,000 employees. About half of this number is based out of India.
The Company’s finance, HR, finance, legal and compliance operations have their business units based in the country. The internal audit and risk management work is also carried out here. Additionally, the investment management and investment banking teams are also based out of India.
India is apparently Morgan Stanley’s second-largest location after New York.
About 30 per cent of the firm’s talent comprises technies based out of India. About 80 per cent of the India team comprises Millennials.
Early last month, Morgan Stanley had predicted a capex boom in India. It expects the investment rate of India — or the percentage of GDP invested — to go up to 36 per cent of GDP. In 2021, the investment was at 31 per cent, and at 36 per cent it would be the highest since probably 2012.
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