StoneX Sets Its Sights High with New Offices in India
StoneX Expands Its Operations in India
StoneX Group Inc., a prominent player listed on Nasdaq, has recently announced exciting developments in its India operations. The company has opened new offices in Pune and Bengaluru, boasting a total of 800 seating capacities. This expansion is a strategic move as it aims to tap into the rich talent pool available in India, thereby enhancing its services and operations in the region.
Growth Since 2019
Since launching its Global Capability Centre in India back in 2019, StoneX has witnessed impressive growth. The firm employs over 550 individuals in the country, contributing to a global workforce of more than 4,300 employees. The expansion to Pune and Bengaluru is a testament to its continued commitment to the Indian market.
Leadership Insights
Greg Kallinikos, the APAC CEO of StoneX, has emphasized the critical role India plays in their technological advancements. He noted, "India has consistently been at the forefront of technological innovation across various sectors," recognizing it as an ideal location for the company’s tech and support operations. This aligns with StoneX's strategy to leverage local expertise in boosting its operations.
Commitment to Hiring
Abbey Perkins, Chief Information Officer at StoneX, echoed Kallinikos's sentiments about India's importance by highlighting the firm’s commitment to continuous growth. "This is a growing firm. We are a hiring firm, and our commitment to this market is strong," Perkins stated. This assurance signals that StoneX plans to remain a key employer in India, further attracting talent in the financial services sector.
Evolution of StoneX India
Manu Dhir, General Manager of StoneX India, shared insights into how the company started its journey in India. Originally focusing on global payments technology, StoneX has evolved into a cross-functional Global Capability Centre. The company has grown at an impressive annual rate of almost 40% in terms of headcount, which demonstrates its expansion ambition and the career opportunities it offers to employees.
Investment in Local Talent
Dhir elaborated on their mission to recruit top professionals from local universities, emphasizing that the company not only aims to expand but also to provide robust career advancement opportunities, including leadership positions, for its employees. By investing in local talent, StoneX ensures that they harness the best skills available in the Indian market.
New Office in GIFT City
In addition to the new offices in Pune and Bengaluru, StoneX has established its presence in GIFT City, a hub designed for international finance. The firm began operations in this strategic location with the aim of facilitating trading in precious metals. In June 2024, StoneX made headlines by becoming the first international company to join the IIBX (India International Bullion Exchange) as a trading and self-clearing member.
About StoneX Group Inc.
StoneX Group Inc. is known for its comprehensive financial services network that provides connections between various stakeholders in the financial ecosystem. By combining digital platforms with end-to-end clearing and execution services, StoneX aims to be the trusted partner for clients, enabling them to manage risks, capitalize on trading opportunities, and enhance their overall business performance. As a Fortune 100 company, headquartered in New York City, StoneX serves a diverse client base that includes over 54,000 commercial and institutional clients as well as more than 400,000 retail accounts globally.
Frequently Asked Questions
1. What recent developments has StoneX announced in India?
StoneX has opened new offices in Pune and Bengaluru, expanding its capacity to enhance operations while tapping into the local talent pool.
2. How many employees does StoneX have in India?
StoneX currently employs over 550 staff members in India, contributing to a global workforce of more than 4,300 employees.
3. Why is India important for StoneX's operations?
India is seen as a hub for technological innovation and has a vast talent pool, making it an ideal location for StoneX to expand its technology and support services.
4. What is the significance of the IIBX membership for StoneX?
Being a trading and self-clearing member of the IIBX enables StoneX to trade in precious metals and enhances its global operational capabilities.
5. What opportunities does StoneX offer to local talent in India?
StoneX is committed to providing substantial career growth opportunities, including leadership roles, and actively recruits top talent from local universities.
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