BlackRock plans to hire 1,200 people in India ramp-up, Bloomberg News reports

Blackrock plans to hire nearly 1,200 people to expand its two support hubs in India, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The world’s largest asset manager wants to build out its artificial intelligence capabilities in India with the expansion, the report added.

The iHubs, as the centers are known, are in the country’s financial hub Mumbai and Gurugram, which is near the national capital New Delhi.

The new hires will increase total headcount to roughly 3,500 in the two cities, and include more engineers and data experts, according to the report.

BlackRock strikes $12.5bn deal for Global Infrastructure Partners

Blackrock is also inheriting a so-called global capabilities center in India’s IT hub Bengaluru, through its proposed deal to acquire data provider Preqin, Bloomberg reported.

That center will have roughly 1,500 staff members.