State Street and HCLTech are finalising plans for State Street to assume full ownership of Statestreet HCL Services, the India-based JV formed in 2012 to provide business operations services. This consolidation is expected to be completed in Q2 2024. State Street has partnered with HCLTech for more than a decade.
Earlier this year, State Street announced that it was streamlining its operating model in India and would assume full ownership of its JV joint venture with the Atos Group (originally established with Syntel, Inc.). State Street recently appointed Arindam Banerrji as country head for India, based in Bengaluru.