De Shaw India Office Becomes Operational In Hyderabad

DE Shaw & Co, the $1 billion US-based software majors Indian subsidiary, has become operational.

However, the formal inauguration will take place only in July when David Shaw, the founder-chairman and adviser to Bill Clinton on computer technology, visits the city.

The 33,000 sq ft futuristic office at Begumpet is getting the final touches.

The five-member core management group, all from the multinational corporation Intergraph, are already into production and export of software.

Besides, there are as many as 30 computer scientists, mathematicians and quantitative analysts - who will shortly be joined by an additional 20-member work force.

According to associate director B Balaji, the staff strength is likely to increase to 180 employees by 1998.

 

The company also plans to acquire additional facilities at the Infocity in Madapur. The Madapur Infocity will be operational only by end-1999.

Balaji said he was keen on making Madapur the hub though no firm commitment had been made as yet.

When David Shaw was planning an Indian office, his immediate preference was Bangalore. But he found Bangalore had reached the saturation point, while Hyderabad was coming up in a big way. "We found good skilled manpower in Hyderabad. More importantly, we were sure of retaining our manpower in Hyderabad than in any other city, confirmed said Balaji.

Though the software development centre of the company at Hyderabad will play a crucial role in maintaining the parent firm's technological leadership in securities information management, market evaluation and order execution, its main concern will be active participation in the creation of Internet-based products.

Juno, the world's first free electronic mail service and FarSight, a

site on the World Wide Web which will provide the globes first comprehensively integrated online personal finance service, can also be marketed in India through through DE Shaw India Software. " But the high telecom charges in India are a big deterrent, said Balaji.

In the US, in a short period of six months, DE Shaw & Co has wired a lot of people into cyberspace through Juno.

Anyone with a window-based PC and a modem can opt for this free service and in return the subscriber has to put a small banner advertisement.

FarSight, an online financial service, will bundle automated stock trading, online checking accounts, financial data, portfolio management tools, credit card accounts, and access to ATM machines into a one-stop financial supermarket.

"FarSight will provide the world's first comprehensively integrated online personal finance service," claimed Balaji.

Last month, Bank of America and D E Shaw & Co entered into a strategic relationship to link the global client reach of the bank with the equity-linked product capabilities of Shaw. Balaji said the alliance would also benefit the Indian operations.