News: Deutsche Bank to move jobs to India
(PTI 28/03/2006) London - Deutsche Bank, one of the leading international financial service providers, plans to move almost half of its back-office jobs to India by the end of next year, according to a media report.
The bank's plan to move the jobs in its sales and trading operations is part of its reorganisation efforts that has already helped boost revenues by about 1.3 billion pounds, the Financial Times reported.
Deutsche Bank intends to triple its global markets staff offshore to nearly 2,000. The bank is also looking to increase offshore research staff from 350 to 500, more than half the present global total of 900, it said.
The move comes as other big investment banks are also rushing to take advantage of the low cost of highly educated staff in India.
JPMorgan Chase hopes to hire 4,500 graduates in India in the next two years with the aim of transferring 30 per cent of back-office jobs at its investment bank offshore by the end of next year.
These moves highlight the shift in the use of offshore facilities from traditional areas such as information technology support and call centers to more high-value tasks.
About 15 per cent of operational staff in Deutsche's markets business are offshore and the bank plans to lift this to 40 to 50 per cent by the end of next year.
The bank's plan to move the jobs in its sales and trading operations is part of its reorganisation efforts that has already helped boost revenues by about 1.3 billion pounds, the Financial Times reported.
Deutsche Bank intends to triple its global markets staff offshore to nearly 2,000. The bank is also looking to increase offshore research staff from 350 to 500, more than half the present global total of 900, it said.
The move comes as other big investment banks are also rushing to take advantage of the low cost of highly educated staff in India.
JPMorgan Chase hopes to hire 4,500 graduates in India in the next two years with the aim of transferring 30 per cent of back-office jobs at its investment bank offshore by the end of next year.
These moves highlight the shift in the use of offshore facilities from traditional areas such as information technology support and call centers to more high-value tasks.
About 15 per cent of operational staff in Deutsche's markets business are offshore and the bank plans to lift this to 40 to 50 per cent by the end of next year.
posted by InCar Group Press Room at 17:53
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