Societe Generale expands India operations

Bangalore-based Societe Generale Global Solution Centre (SG GSC), a part of the Societe Generale Group, has announced its next phase of expansion in Bangalore.

SG GSC provides services encompassing banking operations, applications development and maintenance, infrastructure management services and financial accounting and performance management to Societe Generale's business lines around the world.

To support SG GSC's rapid growth and expansion plans, the company has set up a new facility in Bangalore, its third one in the city. The new facility, which will house around 200 dedicated professionals, will serve as the business continuity plan site for SG GSC.

"We have expanded our service offerings recently to include equity settlements & reconciliation process. To support our growth strategy in India, we plan to double our present manpower of 425 by December 2008," said Ramesh Kumar, MD & CEO of SG GSC.

SG GSC started its Indian operations in 2000 with a team of just 10 employees, primarily catering to the financial software, R&D, IT consulting and project management needs of the Societe Generale corporate and investment banking division.

The team has now grown to 425, which provides end-to-end solutions to all business lines in the Group, across geographies.

Societe Generale is one of the largest financial services groups in the euro-zone.

The group employs more than 1.3 lakh people worldwide in its three key businesses including retail banking & financial services, global investment management & services and corporate & investment banking.