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Credit Suisse relocating back-office jobs from Singapore to Poland


2012-09-03



Credit Suisse, the global financial services company, is in the process of moving “dozens” of back-office jobs from Singapore to India and Poland, as part of a cost-cutting programme designed to adapt the organisation to a slump in investment banking revenues and profits, the Financial Times reported on 2 September.

Singapore remains a very important hub for Credit Suisse’s businesses in Asia, but maintaining support staff there is seen by the group as too costly. A growing number of global banks are taking a similar view, and are increasingly looking to other countries to provide a low-cost base for back-office operations serving the Asian financial centre, a source familiar with the situation told the FT. The activities involved include e.g. operational and credit risk, trade confirmations, or product control.



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