US wealth management firm LPL Financial opens GCC in Hyderabad
The Hyderabad GCC is expected to enhance operational efficiency, expand back office capacity, and drive innovation for LPL Financial
LPL Financial, a US-based wealth management firm, has opened a global capability centre (GCC) in Hyderabad. This unit will support the corporation’s functions including technology, operations, product development, data and analytics, and risk management.
The Hyderabad GCC is expected to enhance operational efficiency, expand back-office capacity, and accelerate innovation, LPL Financial said in a statement.
The company also said it decided to locate its GCC in Hyderabad given the city’s advanced infrastructure and strong base of human capital with experience in financial services, technology, artificial intelligence, automation and cloud engineering.
“By bringing together global talent through the LPL Financial Global Capability Centre in Hyderabad, we are strengthening our platform and accelerating the development of next-generation capabilities that support our advisors and clients,” said Greg Gates, Chief Technology and Information Officer for LPL Financial.
A Fortune 500 company, LPL is among the fastest-growing wealth management firms in the United States, supporting more than 32,000 financial advisors and the wealth management practices of nearly 1,200 financial institutions, and servicing and custodying approximately $2.4 trillion in brokerage and advisory assets on behalf of about 8 million Americans.
Telangana IT Minister D Sridhar Babu said, “As we continue to elevate our position from being a GCC hub to a global value creation ecosystem, commitments like this reinforce Telangana’s vision of building Hyderabad as a leading global center for wealth management and financial services innovation.”
Ramesh Kaza, Executive Vice President and Head of Country for the LPL Financial GCC, said, “Over the next three to five years, we expect this centre to become an increasingly important capability hub, with teams supporting business, product development, technology and operations, all executing against the US-led strategy and aligned to LPL’s people-first culture and global standards.”