Broadridge Financial Solutions - formerly known as ADP Brokerage Services Group - is spending $6 million on expanding its operations in India by March 2008, according to a Reuters report.
Broadridge, which provides outsourcing services to the financial services industry, says it will set up a new facility in the Indian city of Hyderabad.
Richard Berke, corporate VP, Broadridge, told reporters that the vendor will also increase its headcount in Hyderabad by 30%.
Broadridge currently employs more than 500 people at its wholly-owned Indian unit, said Berke.
Broadridge was created by the spin-off of ADP brokerage Services - a provider of investor communications and securities processing services to the wholesale financial markets - from Automatic Data Processing.