D. E. Shaw India (DESIS) has opened a new office coinciding with its 25-year anniversary of operations in Hyderabad and with it announced hiring plans.
Opening of the facility, adjacent to the existing office in Jubilee Hills “underscores our continued investment in Hyderabad as a hub of innovation and top talent,” D. E. Shaw group’s executive committee member Eddie Fishman said in a release on Tuesday. DESIS is a part of global investment and technology development firm D. E. Shaw group.
The new 78,000 sq ft office can accommodate more than 400 employees. The firm plans to expand the facility, by an additional 52,000 square feet, to seat 200 more employees.
Speaking at inauguration of the office, Industries and IT Secretary Jayesh Ranjan said “over the last two decades, D. E. Shaw India has strengthened its presence in Hyderabad and become one of the most prominent players in fintech.”
DESIS said its 1,400 employees collaborate with colleagues around the world to build cutting-edge proprietary software systems and provide research and operations support enabling the group’s business and investment activities. The India journey began as a 20-member group with a 64kbps internet link in the 1990s, said Chaitanya Gorrepati, a director and member of the Operating Committee at DESIS.
The firm said it will be expanding its footprint by opening offices in Bengaluru and NCR (National Capital Region) by 2023, a move that will help create new job opportunities and provide flexibility to its existing talent. By 2025, the headcount is expected to increase by 25%, it said.
