CHENNAI: In a major boost to Tamil Nadu government’s aim of generating quality jobs through Global Capability Centres (GCCs), Japan’s third largest financial services group, Mizuho Financial Group has set up its Global Business Center in Chennai with a current workforce of 250 and plans to scale it up to 1,000 by 2025.The Chennai centre will play a pivotal role in conducting high-end IT/ITeS, encompassing Robotic Process Automation (RPA), Artificial Intelligence (AI), systems development, cybersecurity, and general banking operations. Chennai’s thriving ecosystem, enriched by a pool of talent with exceptional banking and IT skills, are some of the key factors for Mizuho to choose the city as its preferred destination for its Global Business Centre.“The Government has been actively pursuing investments in the GCC space, and it is definitely yielding good results thanks to key enablers such as quality talent and necessary infrastructure,” said V Vishnu, Managing Director and Chief Executive Officer, Guidance.The development is a milestone in Mizuho’s commitment to enhance its global capabilities, primarily focusing on banking and IT operations for Mizuho Bank and other entities within the group. Dr Dharma Raja, Managing Director, Mizuho Global Services, India, said the current focus of Mizuho is on rapidly expanding its business and enhancing capabilities to cater to the entire global network of Mizuho group. “Establishing our office in a conducive business environment such as Chennai significantly bolsters our pursuit of these objectives,” he said.The city has already become a strategic choice for many large global IT corporations and capability operations of major banks. Safety, good infrastructure, and expansion of Chennai Metro to facilitate seamless operations are among other factors for the city to emerge as the leading, and preferred destination for global conglomerates. Chennai hosts major Banking, Financial Services, and Insurance (BFSI) Global Capability Centres (GCCs) for prominent institutions like Standard Chartered, Bank of America, NatWest, Wells Fargo, Barclays, The World Bank, and Citi.
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