Wells Fargo & Co to open a centre at Hyderabad

Operations will commence in October

Wells Fargo & Co, a leading financial services company of United States would open a Technological Resource Facility in Hyderabad during the current year. The US No. 5 bank's Indian operations would commence in October with an initial intake of 30 to 50 employees and gradually scale up to 300 employees by year end. The company would also launch a Business Process Outsourcing (BPO) operations later.

The company has identified 50,000 sft of built up area at Madhapur to start operations and has plans to set up its own camps at a later time.

In a video conference with the Chief Minister of Andhra Pradesh Dr. YS Rajasekhara Reddy, Well Fargo's Technology Information Group Head Victor Nichols announced the decision. He said that they have taken the decision basing on the proven reputation of Hyderabad as a software services destination and availability of infrastructure. This move, however, sources say, is not a cost cutting move by the company but to meet the demands of talent outside the United States aswell.

This is an archive news page about an event that happened in the past. The News / Information might have changed in subsequent days as news gets developed. This page exists for referance purpose only.

 Join Discussions on AndhraNews.com

Raghavulu tells Congress to scrap GO 5
Says only Rs. 15 Crores is earmarked for VRS

80,000 houses for Below Poverty Line families
Chief Minister directs the officials to take immediate steps

Two Hotel Management Students killed
Junior kills his Senior and runs away

Northgate Technologies shows improved Quarter
Better performance in online advertising and telecom business

Wells Fargo & Co., to open a centre at Hyderabad
Operations will commence in October

Events and happenings on 1 August in History

1 August 2001
Highlights: State Government to ask for Rs. 850 Crores to Centre

1 August 2002
Highlights: 6 naxals dies in encounters

1 August 2003
Highlights: CM directs authorities to help farmers on dry crops

1 August 2004
Highlights: Three medicos died in an accident

1 August 2005
Highlights: DGP confirms combing in Nallamala forests

1 August 2006
Highlights: Raghavulu tells Congress to scrap GO 5

1 August 2007
Highlights: Ban on six Maoists organizations extended