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Credit Suisse launches center of excellence in India

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CIOL Bureau
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Pune: Credit Suisse announced the launch of a new center of excellence (CoE) in Pune. The new CoE forms part of a global sourcing initiative by Credit Suisse to leverage talent around the world and maximize efficient use of the Bank's resources.

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The new Pune site will support the bank's busi-nesses across 50 countries globally and will grow to eventually support 1500 staff in a new Credit Suisse-branded facility. It will become operational in January 2007.

publive-image "It demonstrates our commitment to India and is a major endorsement of Credit Suisse's belief in the country's potential"

Paul Calello
, CEO, Credit Suisse, Asia Pacific region

The bank has signed contracts with Wipro Technologies providing an initial two-year commitment covering the lease of premises at Pune and the provision of outsourced services for a wide range of banking functions, including information technology, operations, finance and front-office analytics.

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Paul Calello, CEO, Credit Suisse, Asia Pacific region, was in India for the signing ceremony. "This is an important milestone for Credit Suisse and its ongoing efforts to deploy our resources effectively and efficiently. It also demonstrates our commit-ment to India and is a major endorsement of Credit Suisse's belief in the country's potential and reflects the success of Credit Suisse's integrated global bank model," added Calello.

The CoE program is a key strategic initiative for Credit Suisse, designed to improve client services by deploying resources and building new infrastructure globally.

Tom Sanzone, CIO, Credit Suisse and Head-Centers of Excellence Program stated, "The new center greatly enhances our global sourcing initiative. We remain committed to continuing to find more efficient ways to serve our clients and support our businesses."

Credit Suisse regards India as one of the most important growth markets for its Asia Pacific business. It is in the process of re-activating its investment banking activities in the country, and last year opened a financial consultancy and advisory office in Mumbai in order to grow its wealth management business.

Source: DQ Week