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Silicon Valley Bank, a subsidiary of SVB Financial Group, plans to hire over 200 people for its Bengaluru office. SVB is one of the largest banks in the US and has invested in over 30,000 start-ups. The current workforce of the company stands at 150 employees which is being scaled up rapidly.
The statement said the organisation started hiring engineers, systems architects and data analysts to work on projects and initiatives including product design, development and support for core functional areas of SVB’s business. SVB is establishing a capable and scalable end-to-end finance function in Bangalore to provide accounting, regulatory reporting, FP&A, procurement, tax and treasury support.
“As we take a look across the globe, there are shortages in labour of skilled and quality talent to be able to support the banking operations. Largest global financial institutions have taken a stronghold here in the local market. The important thing for us is the development of our digital platform, looking at operating the bank technology-wise, analytic support, needs in financial operations. It is difficult to find them in the US and frankly on a global basis. As we look at different markets, we find opportunities in Bengaluru,” Daniel Beck, Chief Finance Officer, SVB, said in a statement.
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