Charles Schwab chooses Hyderabad for its first Technology Development Centre in India

Hyderabad, Aug 8 (PTI) Charles Schwab, a leading financial services firm, has chosen Hyderabad as the prospective location for its first Technology Development Centre in India, the Telangana government said here on Thursday.

The decision came following fruitful discussions between Chief Minister A Revanth Reddy, state IT Minister D Sridhar Babu and senior Schwab executives Dennis Howard, Rama Bokka and others at Charles Schwab’s world headquarters in Dallas, USA.

Revanth Reddy is currently on a visit to the US to seek investments into the state.

CM Revanth Reddy and the IT Minister have “committed to guiding Schwab through all necessary formalities for establishing their presence in Hyderabad, ensuring swift access to the necessary talent for a rapid ramp-up,” an official release said.

Schwab’s executives have appreciated the proactive support from the government as a promising indicator of a successful collaboration, it said.

Charles Schwab is currently awaiting the final approvals for announcing the details about the upcoming centre and to delegate a team to India for officially establishing the Schwab Technology Centre in Hyderabad, it said.

Meanwhile, CM Revanth Reddy paid homage to Gandhi statue in Dallas, along with his ministerial colleagues Sridhar Babu and Komatireddy Venkat Reddy.