[India], July 3 (NewsVoir): U.S. based, Arcesium, technology and service provider for asset management companies, has successfully completed three years at its India office located in Hyderabad.
The celebration at its India facility was graced by K.T. Rama Rao, State Minister for Information Technology (IT).
Arcesium, spun-off from the D. E. Shaw group in July 2015, and has grown to support over USD 100 billion in assets for clients based in North America.
During the Arcesium India facility visit, K.T. Rama Rao said, "I met D.E. Shaw Group, the parent company in 2015 to discuss their plans for establishing Arcesium's office in Hyderabad. The government is focussed on promoting Telangana as the preferred destination for foreign investment in the technology sector, and Arcesium is a prime example of a company that attracts distinguished talent, fosters an environment of innovative thinking and has steadily transformed Hyderabad into a global business city."
Rao further spoke about how Hyderabad is the leading destination for IT companies and start-ups in the country. He compared Hyderabad to other cities in India in terms of ease of business, encouragement to localised start-ups and innovative thinking. He also cited the Mercer ranking which ranks Hyderabad as 'the best city to live in' in India.
When asked about roadways and traffic planning in Hyderabad, he spoke of future plans of road development which will result in a radical change in the next few years. He also spoke of a fundamental shift in commuter mindset which would be required for traffic decongestion while claiming that a large number of Hyderbadis - nearly two-thirds - have their own private vehicles and do not use any form of ride sharing.
Ranvijay Lamba, Country Head for Arcesium India, thanked K. T. Rama Rao's administration for providing a conducive environment for growth, and for facilitating the firm's set-up over the past three years.
Gaurav Suri, CEO, spoke of the firm's journey beginning in 1996, when the D.E.Shaw group was one the first companies to open its office in Hyderabad and how, since then, Hyderabad has been a key part in their success.
"The past few years have seen some of the country's best technologists and business professionals come together to create cutting-edge solutions in the Financial Technology sector. Hyderabad, which houses the majority of the firm's personnel, has been the cornerstone for the firm," he said.
"I'm amazed by the tremendous pace of growth this city has seen especially in the past few years. As Arcesium, we've benefitted from the great infrastructure not just in the way we've been able to set up our state-of-the-art office premises but also with respect to the high-calibre employees we've been able to attract," he added.(NewsVoir)