Credit Suisse to increase headcount in their Mumbai center
SOURCE: Reuters
DATE: Nov 30th, 2009
Credit Suisse is one of the few organization which is looking to continue to up their captive operations in India while their peers look at shedding their captive operations in India. According to Reuters, Credit Suisse plans to double the capacity of it’s captive Knowledge Processing Center in Mumbai from 150 to over 350 in 2010. Credit Suisse works with a number of vendors small and large in India and also has a captive in Mumbai.
Credit Suisse had also set up a ‘virtual captive’ unit in Pune with Wipro a couple of years back which is still operational. The concept of virtual captive is where the unit is dedicated and run for a single corporation with the management sandboxed but the center is run by a vendor , in this case Wipro. Genpact had created a similar model for Wachovia ( Difference being that Wachovia also had an ownership stake in Genpact).
Wells Fargo has also expressed their desire to expand their captive operations in Hyderabad although it has a major amount of work being done offshore in BPO by Genpact and Cognizant, IBM in IT among other vendors.
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