Credit Suisse to recruit up to 4,000 staff for Asia operations
617401
Switzerland's second-biggest banking group Credit Suisse said it plans to add up to 4,000 employees to double its staff for Asian operations over the next two years.
714204
Federated Department Stores has hired Credit Suisse First Boston to analyze what to do with up to $3.1 billion in credit-card receivables.
620867
Credit Suisse Group, Switzerland&#39;s second-biggest bank, plans to combine its Credit Suisse First Boston (CSFB) securities unit with its banking business in the next two years to boost earnings.
312810
Allianz AG, Europe s largest insurer, will sell exchangeable and subordinated bonds worth about 4 billion euros ($5.2 billion) to boost capital, cut debt and reduce the company s investments in German equities.
286403
Airbus SAS, the world&#39;s biggest aircraft-maker, plans to source more parts for its planes from China and to set up an engineering base there, the head of the company&#39;s operations in the country said.
39238
Credit Suisse will on Monday announce a wide restructuring that will integrate its volatile Credit Suisse First Boston investment banking operation much more closely into the parent
707112
Credit Suisse Group plans to eliminate jobs at its Credit Suisse First Boston securities unit and merge the business with other banking operations as it struggles to boost earnings that have trailed Wall Street firms.
218916
Swiss banking giant Credit Suisse has reported a record net profit of 11.3 billion Swiss francs (9.1 billion dollars, 6.3 billion euros) in 2006, more than double the 5.8 billion Swiss francs posted in 2005.
472656
A major Chinese insurer has announced plans to raise up to $22 billion (euro15.0 billion) for acquisitions at a time when U.S. and European banks, battered by mortgage losses, want infusions of Asian capital to replenish their balance sheets.
424295
The Australia and New Zealand Banking Group hired Michael Smith, head of Asia for HSBC Holdings, as chief executive to drive expansion in Asia, where the bank plans to double investment. Mr. Smith, 50, who worked for HSBC for 29 years, succeeds John McFarlane, who ran the bank for a decade. âIâve watched the Australian banks for a number of years and often wondered why they havenât done more in Asia,â Mr. Smith said in an interview. ââWhen a market like Australia becomes mature, you have to look for opportunities elsewhere and I really do feel there is a significant opportunity in Asia.â.
256927
Credit Suisse Group, Switzerland s second-biggest bank, plans to expand its commodities business and will seek ventures and acquisitions, as energy prices surge and other banks compete in the growing markets in ...
594777
Global investment bank Credit Suisse First Boston, or CSFB, has announced the appointment of former Merrill Lynch banker Zhang Liping as its country head for China.
584003
Shares in the French insurer Axa gained in afternoon trade here on a Financial Times report that Axa is in talks to acquire Credit Suisse Group's Winterthur unit.
486908
The Swiss government has promised an additional SFr25 million ($22 million) in immediate aid to countries hit by the tidal waves in southeast Asia.
237542
HSBC Holdings , Europe's biggest bank, said on Wednesday it will open an insurance business in Taiwan as it aims to tap into the fourth-biggest insurance market in Asia.
716332
Dutch bank ABN Amro pays out $4.5m to try to settle a dispute with the Vietnamese authorities that have detained four of its staff.
176148
(InfoWorld) - French IT services company CapgeminiÂ will have more staff in India than any other country by the end of this year, as it expands its offshore services delivery from that nation. With about 19,000 staff, the company's largest operation by headcount is currently in France, but that will change as Capgemini plans to have over 19,000 staff in India by the end of this year, said Salil Parekh, executive chairman of Capgemini India on Thursday The company, which has 15,000 staff in India currently, plans to expand further in the country to employ 40,000 workers by 2010, Parekh said. The majority of the staff will work in IT services with the rest in BPO (business process outsourcing), he added. A number of large Indian and multinational IT services companies, including IBM and Accenture, have been hiring significant numbers of staff in India to take advantage of lower employment costs. Accenture, for example, said in January it will haveÂ more staff in IndiaÂ than in any other country by the end of its fiscal year on Aug. 31. The company's staff in India will increase to 35,000 in August, up by 52 percent from a year earlier, with the number of employees more than those in the U.S., which will have a little over 30,000 staff. The large-scale hiring by services companies has led to a shortage of quality staff and an increase in average salaries in India. However, Capgemini does not anticipate any obstacles to its hiring plans. The company's recruitment team is equipped to hire about 1,000 employees a month, both from university campuses and the services industry, Parekh said. "India remains cost-effective, and we haven't seen any evidence to the contrary yet," Parekh said. In addition to India's lower staff costs, the country remains attractive because it offers quality staff and Capgemini can scale operations to a level not possible in many other countries, said Parekh. By 2010, Indian staff will account for 70 percent of Capgemini's offshore services, down from 80 percent today, as the company ramps up operations in other countries like Argentina, Morocco, Romania, the Philippines, and Vietnam. China will also continue to serve as a key location. The company has about 1,000 staff in China, and will likely increase staff levels there three-fold by 2010, Parekh said. Capgemini also gained new business and staff in India through acquisitions. Last year, the company bought a 51 percent stake in Unilever India Shared Services, a finance and accounting BPO operation owned by consumer-goods maker Unilever Group. This business, which becomes a wholly owned subsidiary of Capgemini by 2008, is a key center for the company's finance and accounting BPO practice, Parekh said. In February, Capgemini purchased Kanbay International, an IT services firm in Rosemont, Illinois, to boost its services delivery from India, and its business in the financial-services sector. The Kanbay acquisition brought Capgemini a number of customers in the U.S., Parekh said. As it grows in India, Capgemini plans to expand its business in areas such as infrastructure management, ERP (enterprise resource planning) development and maintenance, and non-voice BPO, Parekh said.