Deutsche bank increasing headcount in India – to hire over 1,000
Source:EconomicTimes
Date: Feb 21st. 2008
Mohit SoapBox:
Captives are dying, captives are dying! With the folks shouting that mantra, Deutsche is adding to their captive in India. Deutsche also tends to work with a host of suppliers in India. For companies which have a scale and a potential to leverage their scale further it makes sense to improve their headcount in India. Hopefully the captives will be smart in the new environment and manage to add some checks in their growth process by being smart on hiring and pay increases.
FACT BOX:
Deutsche current headcount in India: 3,900 expected to grow to 5000 by end of year 2008
Deutsche is opening third center in India in Jaipur – other locations - Bangalore,Mumbai
Simon Fanning – Head of Strategic Sourcing Program
DEUTSCHE Bank plans to hire more than 1,000 people for its back-office operations in India and open front-end offices in the UK and US to facilitate offshoring, a senior official said, reports Ritwik Donde in Mumbai.
Simon Fanning, the bank’s head for strategic sourcing programme, said staff strength at DB Operations International (DBOI) will reach 5,000 by the year end compared with 3,900 now. The move comes at a time, when a few other multinationals are actually trying to sell off their captive units and outsource operations.
The UK office would be located in Birmingham while the US city for a similar office is yet to be finalised. “The new centres would allow us to build resilience in terms of technology and processes, “ Mr Fanning said.
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