Deutsche Bank Boards The Indian Express
Deutsche Bank is the latest international securities firm to boost the number of jobs to be based in India.
News reports suggest the German bank is ready to substantially increase the number of back office sales and trading and research positions based in India.
The Financial Times reports that Deutsche will increase its number of offshore global markets staff to nearly 2,000 by the end of this year, triple current industry estimates. It says the bank is also planning to increase the number of India-based researchers from 350 to 500.
Deutsche is the latest in a long line of banks with aspirations to increase Indian offshoring. Recent reports suggested Credit Suisse plans to shift up to 1,000 technology jobs there in 2006. JPMorgan hopes to offshore 30 percent of its investment bank back-office jobs by the end of 2007.
The FT also reports that UBS is opening a new center in Hyderabad with an initial capacity for 500 jobs next month, and that Lehman plans to double its Indian staff to 1,000 this year.