U.S. wealthtech firm AssetMark, which has been operating in India through an outsourcing model for nearly a decade, announced on Tuesday opening of its global capability centre (GCC) in Hyderabad.

AssetMark Global Wealth, the GCC, is equipped to house about 500 employees and strengthens the firm’s global technology and business operations. It will further expand AssetMark’s presence in India and create opportunities to attract and nurture local talent.

The Hyderabad GCC represents the next phase of its commitment to the country, bringing a dedicated team in-house. Hiring is under way across levels, from global leaders managing teams across India and the U.S. to experienced professionals and early-career talent, with roles spanning technology, operations and product management, the firm said.

“Hyderabad’s strong ecosystem of technology and financial services expertise makes it an ideal location to expand our global capabilities and support the next phase of growth,” said Lou Maiuri, chairman and group CEO of AssetMark.