Bangalore: Kanbay Inc, a global Information Technology (IT) company, announced setting up of its second India development centre in Bangalore.

The development centre to be built in phases will initially house 700 professionals and is expected to go operational by December 2003, a company release said.

Kanbay has a development centre now at Pune with a strength of 1,200 software engineers.

"We are growing rapidly and Kanbay India will expand to meet growing needs of global financial services companies. We are aiming at a 3,000 strong team in India in the next three years," chairman and chief executive officer (CEO) of Kanbay Inc Raymond Spencer said.

The company plans to hire a good mix of experienced professionals and freshers for its expansion, the release said.

PTI