Wells Fargo may set up back-office in India

US-based financial services major Wells Fargo, which has set up an information technology and business process outsourcing facility in Hyderabad, is looking at locating back office processes, other than call centres, in India.

"The work here is primarily technology, but there will be significantly more people involved in business process in the coming year," Wells Fargo India Solutions Private Limited (WFIS) managing director Aveek Mukherjee stated in an online interview. According to Mukherjee, the overall objective of WFIS has been to establish a source of talent for positions Wells Fargo has been unable to fulfil in the US. "Our presence here reflects our need to attract the best and the brightest among the global workforce to help us develop and enhance our product and service offerings," he said.

Stating that Wells Fargo would be making significant investment in its Indian outfit, Mukherjee said WFIS would be setting up its own campus in Hyderabad. "Plans for a campus site are in the works - we are working with the government of Andhra Pradesh and have submitted an application," he said. WFIS began its operations here on September 15, 2006, from a 69,000-square feet leased premises, a size capable of handling 560 people.