BlackRock, the world’s largest asset manager, plans to hire about 1,200 employees to enhance its operations in India.

The recruitment will focus on expanding support hubs, known as iHubs, in Mumbai and Gurugram, particularly to strengthen AI capabilities.

BlackRock also aims to acquire a global capabilities center in Bangalore as part of its proposed purchase of data firm Preqin.

The new hires will increase the company’s workforce in Gurugram and Mumbai, which is currently about 3,500.

The firm is looking to recruit engineers and data experts to assist with its growing AI projects, but specific plans have not been finalized.

To support the additional staff, BlackRock has secured extra office space in the Mumbai suburb of Goregaon.

The lease, valued at nearly 4 billion rupees (US$45.9 million), and involves developer Oberoi Realty Ltd.

Recent BlackRock developments