BlackRock (BLK) plans to hire about 1,200 employees to expand two support hubs in India and boost its artificial intelligence teams there, Bloomberg reported Wednesday, quoting unnamed sources familiar with the matter.

The company is hiring for its offices in Mumbai and Gurugram where it already has 3,500 employees, the report said.

BlackRock is also inheriting a facility with 500 employees in Bangalore via its planned acquisition of investment data company Preqin, the report said.

BlackRock didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)