Hyderabad: MetLife, the world’s largest insurance and financial services provider, and a major American Fortune 500 company, will be making an entry into Hyderabad with the establishment of a large Global Capability Centre (GCC).
During his US tour, Industries minister K T Rama Rao and his delegation held a meeting with senior executives of MetLife at their global headquarters in New York.
“This investment will further strengthen the city’s strong position in the BFSI (Banking, Financial Services, and Insurance) sector. The Telangana government has shown a strong commitment to supporting the BFSI sector, with notable initiatives like the recent formation of the BFSI Forum. This proactive approach aims to ensure the sustainable growth and development of the sector, creating a favorable environment for global giants to thrive,’ a press release from the state government said.
“We are excited to welcome MetLife to Hyderabad’s flourishing business landscape. MetLife’s decision to establish a GCC here further reinforces our vision of making Telangana a preferred destination for the BFSI sector.” KTR said.
The minister expressed that he was always captivated by MetLife’s building in midtown which is a big part of the iconic skyline of New York City. “A very gratifying experience having a meeting with their senior executives in the very same building for making a pitch for Telangana,” he remarked.
“Hyderabad has already become a preferred choice for leading names in the BFSI industry, with significant players like MassMutual, HSBC, State Street, Berkadia, Wells Fargo, JP Morgan Chase, Invesco, London Stock Exchange amongst others setting up their GCCs in the city. MetLife’s addition to this esteemed list solidifies Hyderabad’s status as a robust BFSI ecosystem, poised for continuous growth,” the press release further said.