Credit Suisse is relocating dozens of back-office jobs from Singapore to India and Poland as part of efforts to cut costs, the FT reported on Monday. It also reported that Morgan Stanley last month completed shifting about 80 back-office jobs to India and Hungary, from Singapore.
And that other banks were planning to move back office jobs to “cheaper” countries.
Our constructive, nation-building media were very quick to report a survey that UK investment bankers wanted to come here, but while Today and BT (online) reported bits of above, ST never did. And BT (the paper) does not seem to have reported it.
AND they all don’t publish the bit about Morgan Stanley and the other banks. Remember you read it here.