DE Shaw is the latest hedge fund major to announce an expansion in India with the opening of two new offices in the cities of Bengaluru and Gurugram, which will be home to around 300 additional employees in total.

DE Shaw is the latest hedge fund major to announce an expansion in India with the opening of two new offices in the cities of Bengaluru and Gurugram, which will be home to around 300 additional employees in total.

DE Shaw's new offices see the $60 billion firm join rivals Millennium and AQR Capital management in increasing the size of their operations in India with both firms actively recruiting in Bengaluru, and Millennium also reportedly looking for new staff in Mumbai.

DE Shaw India now employs almost 1500 people, the majority of whom are based at its technological development centre in Hyderabad, which opened in 1996.

In a press statement, Eddie Fishman, a member of DE Shaw's executive committee, said: "Our talented colleagues in India have helped the firm innovate for more than 25 years. In addition to our presence in Hyderabad, we're pleased to join the communities of Bengalaru and Gurugram to attract a growing number of impressive people."