Mizuho Financial Group, Japan's third largest financial services group, has established its global business center in Chennai.
The Chennai center will play a central role in delivering state-of-the-art IT/ITeS covering Robotic Process Automation (RPA), Artificial Intelligence (AI), Systems Development, Cyber Security and General Banking Operations. Mizuho Global Services (MGS), with more than 250 employees currently, plans to increase the number to 1,000 by 2025.
“The government is actively pursuing investment in the GCC space and it is certainly delivering good results thanks to key factors such as quality talent and required infrastructure,” said V. Vishnu, MD and CEO of Guidance, the lead agency instrumental in securing investment in Tamil Nadu.
Dharma Raja, Managing Director, Mizuho Global Services, India said, “Our current focus is on rapidly expanding our business and enhancing our capabilities to serve the entire global network of the Mizuho Group. Establishing our office in a favorable business environment like Chennai significantly strengthens our pursuit of these goals.”
Chennai hosts major global banking, financial services and insurance (GCC) centers for major institutions such as Standard Chartered, Bank of America, NatWest, Wells Fargo, Barclays, World Bank and Citi. Notably, Standard Chartered boasts its world's largest office campus in Chennai, and in 2023, Bank of America secured the largest office space transaction by leasing 1.1 million square feet in the city. Over 50% of this workforce focuses on manufacturing engineering and technology capabilities, indicating a thriving talent pool in Chennai for BFSI GCC.
The city has already become a strategic choice for many large global IT corporations and the capacity operations of major banks. Security, good infrastructure and the expansion of the Chennai Metro, which enables smooth operations, are among other factors that make the city a leading and popular destination for global conglomerates.
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