The city’s reputation and talented graduates are the main attractions.
India’s Silicone Valley had reasons to celebrate when, Wall Street bank, Morgan Stanley, opened its back-office in Bengaluru. With a capacity to accommodate 1400 employees, this office is meant to help the bank’s global operations by providing support to business units across geographies and complementing the growth of other support centres in Mumbai.
Though the bank did not disclose investment details, its New York-based chief operating officer, Jim Rosenthal, recognised India as an increasing priority market. “Our focus is to tap into unique pockets of expertise and talent around the world to provide support to our global businesses,” he said.
Rosenthal also added that Bangalore was chosen because of its reputation as an established finance and technology centre and the availability of talented graduates.