Polaris Capital becomes official

CM highlights available of large talented pool in the state

Hyderabad, September 9, 2006

Polaris Software's 'The Capital' claimed to be the world's first super specialty centre for investment banking by its Chairman and CEO, Arun Jain was formally inaugurated by the Andhra Pradesh Chief Minister Dr YS Rajasekhara Reddy. The Chief Minister said that while the Government will do everything possible for the industry to grow as their growth would create jobs, he said he industry has to establish the last mile connectivity with educational institutions, such that those passing out of these institutions become employable.

The Chief Minister said that there are a large number of engineering and management colleges in the state to provide the human resources for Information Technology industry to grow, as if in response to Arun Jain's statement that there is shortage of employable people. Jain said that Polaris would fill up 'The Capital' by adding 600 associates to the existing 1250 in the next two years. The Centre was constructed at a cost of Rs. 70 crore has two lakh sq.ft. of built up space and can accommodate 2000 associates.

Arun Jain said that Polaris wants to move away from economics of cost arbitrage to economics of expertise. The Capital would provide technology solutions for various business in investment banking. It would contain eight areas of operation such as securities, money markets, derivatives, foreign exchange, and margin lending fixed income securities, equity and custody.

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