Credit Suisse opens second CoE in Mumbai

Mumbai, Nov 4 : Credit Suisse has opened its second Centre of Excellence (CoE) in India to provide Knowledge Process Outsourcing (KPO) support to the front office businesses of the Investment Bank.

Credit Suisse already has a Centre of Excellence in Pune, which started functioning from 2007 and had over 2,000 personnel providing mainly IT support to the bank’s operations around the globe. In addition to its CoEs in Pune and Mumbai, Credit Suisse also operates CoEs in Singapore, Raleigh Durham (North Carolina) and Wroclaw (Poland), providing a range of functions, including IT, finance, human resources and operations support to our businesses around the world.

In a release here, Credit Suisse said employees at the new CoE will perform a range of business functions from data gathering to investment analysis and will also provide risk and analytics modeling support. A range of other functions from different areas of the Bank are expected to be included in the near future Credit Suisse will directly employ staff working in the Knowledge Center and the Mumbai CoE will initially have 150 staff. This number is expected to grow to 350 employees by 2010.

Credit Suisse’s Head of Knowledge Process Outsourcing Vineet Nagrani says the new CoE in Mumbai will enable the bank to expand its KPO offering and access the highly educated talent available in Mumbai.

Credit Suisse’s Head of CoE Jon Theuerkauf says the Mumbai CoE is further evidence of the bank’s commitment to off-shoring and re-engineering as a way to reduce costs and increase efficiencies.

''Since establishing the CoE initiative in 2006, we have deployed more than 8,000 roles, or around 15 per cent of our workforce. With the opening of the Mumbai CoE, Credit Suisse will have five CoEs providing support to our operations in more than 50 countries around the world. By 2011, we hope to have over 9,000 roles deployed to our CoE network,'' said Mr Theuerkauf.

--UNI

(c) 2009 Published with permission from United News of India.
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