New York-headquartered firm DE Shaw along with Blackstone (a global asset management company -AMC) is planning a new subsidiary called Arcesium in Hyderabad. Arcesium will focus on providing key software and services for post-trade activities of AMCs. DE Shaw will initially employ 400 people at the Arcesium unit this year and plans to double this headcount in the next three years. Approximate cost of the project is around $200 million.
Extracted from TNN, May 09,’15