IT major Infosys [Get Quote] announced the creation of the company's first Latin American subsidiary, and the opening of the development centre and office for the region based in Monterrey, Mexico. This is the third region-specific subsidiary of Infosys after Australia and China.

The subsidiary, Infosys Technologies S. De RL De CV, will provide business consulting and information technology services for clients in all industries, including banking, financial services, retail, consumer packaged goods, energy and utilities.

The centre will also provide business process outsourcing, infrastructure management and packaged solutions implementation, according to an Infosys release.

In the first year, Infosys Technologies S. De RL De CV will have more than 250 seats. By its third year of operation, it is expected to employ nearly 1,000 employees.

"Our clients are exploring opportunities to mitigate risk while expanding operations in the burgeoning market. The facility will help us establish our services in the central time zone," said S Gopalakrishnan, CEO, Infosys.

After examining several countries in the region, Infosys chose Mexico because of the broad language skills, geographical proximity to Canada, the US and Europe. Latin America is a strong emerging market and one where many of the company's clients have operations.

Infosys has appointed Mohit Joshi to head the new subsidiary. Joshi, formerly a group engagement manager with the company's banking and capital markets organization, has more than 12 years experience.