IndiaDaily
Feb. 16, 2006

Investment bank Credit Suisse is planning to move up to a thousand British and American IT posts to India in an attempt to cut costs. Hundreds of staff at the Swiss bank's Canary Wharf headquarters in London and at offices across New York could be affected by the move. The investment bank, which is preparing to float its Winterthur insurance business in the second-half of the year, will ask some staff to relocate, although the majority of the jobs will be filled from India's graduate community. The new staff would carry out IT roles from back office to application building, working with staff around the world through dedicated servers. Although a final decision to "push the button" has yet to be made, it is understood plans are at a fairly advanced stage. Credit Suisse's global technology and operations division, run by Eileen Murray, has already briefed a number of key suppliers to ask them to carry out "reconnaissance missions" to help them set up shop in India.