Citizens Financial Group Picks Hyderabad for First India GCC in Strategic Partnership with Cognizant

Hyderabad, India: Telangana continues to surge ahead as a global innovation powerhouse, as Citizens Financial Group (NYSE: CFG), one of the United States’ premier financial institutions, selects Hyderabad to set up its first Global Capability Centre (GCC) in India. In a strategic partnership with tech leader Cognizant (Nasdaq: CTSH), the centre will create 1,000 high-value jobs by March 2026 and become a key driver of Citizens’ digital transformation journey.

The launch event, held in Hyderabad, was graced by Shri Duddilla Sridhar Babu, Minister for IT and Industries, Special Chief Secretary Jayesh Ranjan, and IT Advisor to Government of Telangana Sai Krishna, along with senior leaders from Citizens and Cognizant.

“We’re Not Just Building Infrastructure — We’re Building the Future”: Sridhar Babu

Speaking at the launch, Minister Sridhar Babu stated:

“Hyderabad’s rise is not based on hype but on hard numbers and bold decisions. With Citizens Bank and Cognizant joining forces here, we’re moving closer to our goal of making Telangana the first Indian state to contribute $1 trillion to the national GDP. We are transforming Hyderabad into a Global Value Centre — where innovation is born, IP is built, and world-class products are developed.”

He emphasized that the state’s success is rooted in visionary leadership, robust infrastructure, sustainable policies, and strong public-private partnerships — a sentiment echoed by both Jayesh Ranjan and Sai Krishna, who have played pivotal roles in shaping Telangana’s vibrant tech ecosystem.

The new GCC will serve as a next-generation innovation engine, focused on accelerating Citizens' enterprise tech capabilities, customer experience platforms, data analytics, and product innovation. The centre is a core pillar of the bank’s strategy to reduce third-party dependencies and build strong in-house expertise.

Michael Ruttledge, CIO & Head of Enterprise Technology at Citizens, said:

“Hyderabad offers a world-class talent pool and a dynamic ecosystem. This GCC will be central to our tech modernization, helping us bring modern banking products to market faster and deliver superior experiences for our customers.”

A New Chapter in Hyderabad’s BFSI Leadership

Already home to global BFSI giants such as Goldman Sachs, JPMorgan Chase, Citi, Bank of America, and Wells Fargo, Hyderabad now welcomes Citizens to its rapidly growing GCC community.

Nageswar Cherukupalli, SVP & BU Head (BFSI), Cognizant, noted:

“Hyderabad has become the global HQ for BFSI innovation. With over 350 GCCs and one new GCC setting up every week, the momentum is real — and Citizens is the latest elite name to join this journey.”

Cognizant, with a workforce of nearly 57,000 in Hyderabad, will power the Citizens GCC using its AI-powered platforms Neuro® and Flowsource™, delivering future-ready solutions in cloud, data, cybersecurity, and intelligent automation.

Surya Gummadi, President – Americas, Cognizant, added:

“Our shared vision with Citizens is rooted in transformation. With this partnership, we’re building not just a centre — but a culture of innovation that can redefine the future of financial services.”

Why Hyderabad? The Numbers Speak for Themselves

350+ GCCs across BFSI, tech, healthcare, and life sciences

56% YoY growth in commercial space absorption — highest in India

200 million sq. ft. of Grade A office space planned by 2030

Rajiv Gandhi International Airport recorded highest metro passenger growth in 2024

Retail sector leased 1.8 million sq. ft. last year

A Win for Telangana’s Future-Ready Vision

This new GCC is more than a business expansion — it is a bold step in shaping a future powered by talent, technology, and trust. Backed by visionary governance and strategic partnerships, Hyderabad is emerging not just as a GCC hub, but as a Global Epicentre of Value Creation.