New York-based leading investment and technology development company, DE
Shaw, has come forward to invest $ 200 million in Hyderabad. The firm,
which has a presence in Hyderabad from the past 20 years, announced
setting up a new subsidiary called Arcesium in the city in partnership
with Blackstone Asset Management company.
According to an official press release on Friday, DE Shaw will position
400 employees in Hyderabad by the end of the year, a number which will
be doubled in the coming three years. Arcesium will focus on providing
key software and services for post-trade activities of asset management
companies.
This announcement was stated to have made by the managing director of
DE Shaw Company, Eric Wepsic, in the presence of the Telanagana
information technology minister, K T Rama Rao, who is heading a
delegation which is currently on a visit to the US.
Another significant meeting attended by the minister during the second
day of his visit was with Ajay Banga, president of MasterCard. Banga was
stated to have proposed putting together a group of leading private
corporations to work with the government of Telangana in a
public-private partnership mode to work in the area of cyber security.
KPMG chairman, John Veihmeyer, and the chief executive officer new silk
route, Parag Saxena, were also stated to have met the minister during
the visit.
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