<ul><li>Wells Fargo plans to shut down its global capability centre in Chennai by 2027, consolidating operations in Bengaluru and Hyderabad.</li><li>The move aims to offer better growth opportunities and service by aligning with global location strategy.</li><li>Chennai office transition reflects shift towards automation and AI-driven processes in GCCs across India.</li><li>Bengaluru and Hyderabad are preferred hubs for GCC expansions due to talent pools and ecosystem maturity.</li><li>Bengaluru leads in BFSI GCCs, while Hyderabad is emerging as a competitive option.</li><li>Company’s strategic rationale focuses on operational efficiency and career development for employees.</li><li>Chennai's position in GCC landscape is being reassessed amidst increasing attractiveness of other cities.</li><li>India's evolving GCC ecosystem sees a distributed and specialised model with sector-specific focus areas in states.</li><li>Tamil Nadu stands out as a leading manufacturing hub, attracting investments in automotive, agritech, and EV sectors.</li><li>Chennai's dominance in India's data centre landscape is due to its coastal geography.</li></ul>

Wells Fargo’s Chennai Exit: What’s Driving the Bold Move?

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