The 11.5-acre campus would be an offshore centre for the Swiss company, offering knowledge services, including research and analytics, business process offshoring and IT infrastructure support.
In the first phase, the facility would house 180 staff (with a total capacity of 450 seats). By next year, the capacity would go up to 1,500, said Mr Seth Cohen, Head of the Group's offshoring.
The company has earmarked investments to the tune of 50 million Swiss francs for the facility. Explaining the rationale in setting up the facility in Hyderabad, Mr Cohen said that the huge pool of talented workforce was the important consideration for the company. It was this aspect, and not cost arbitrage, that made the company to look at this site. "It is an outlet for us in attracting talent," he said.
Announcing the launch at a press conference here on Monday, Mr Clive Standish, Chief Financial Officer, UBS, said the company had applied for banking licence. And it was in the process.
Stating that Indian market had come of age, he said the company had a long-term view on the country. He foresaw an increase of interest rates in the US by 0.5 per cent and 0.25 per cent in India.
Later, he called on the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy.
