Outsourcing: moving offshore without sinking

Many firms could save money by following HSBC's lead and moving support operations offshore. But for a company with less global presence than the banking giant, this process can be challenging. As well as choosing the right local partner, enterprises need to build support for the process among their own staff - rather than running the risk of alienating them.

Published By Datamonitor

Prudential: taking the Indian option

Insurer Prudential's decision to 'export' jobs to Mumbai is a bold move; it could both cut staff costs by 80% and improve quality of service. As utilities look to reduce costs and fight the downward price pressures that erode margins in the residential sector, they might do well to follow suit. The Pru's high profile example should encourage such moves.

Published By Datamonitor

BNP Paribas: Indian intentions

A new Indian subsidiary will allow BNP Paribas [BNP.PA] to offer more lucrative discretionary asset management services to wealthy Indians and help it meet its ambitious growth targets in the country. However, the bank may struggle to convince Indian HNWs to place their money in the hands of someone else.

Published By Datamonitor

Indian banking: RBI could curb ROI

If enforced, the effects of controversial proposals put forward by The Reserve Bank of India will, in short, be negative. Expansion, for both foreign and domestic players in the banking sector, will be more costly and incumbents will find that further growth will have to be achieved by organic means. India will prove less attractive to foreign investors and consolidation will be hampered.

Published By Datamonitor

Deutsche Bank: Indian aspirations

Given the $109.2 billion in assets potentially available in Indian private banking, Deutsche Bank's [DB] embryonic expansion plans in the country seem well timed. However, under new Indian banking rules, the competition is only going to increase. Domestic competitors currently have weak offerings and Deutsche Bank should move quickly to capitalize on its opportunity.

Published By Datamonitor

India's booming economy has spawned a booming wealth market

The Indian wealth market is offering competitors enormous opportunities. In the last five years, affluent wealth in India has grown at an annual rate of 17.6%, with 618,000 affluent individuals at the end of 2003. India's large skilled population and robust stock market will ensure that this figure grows to almost one million individuals by 2008, with a collective wealth of over $200 billion.

Published By Datamonitor

Retail banking IT: increased investment driving IT spend in India

Published By Datamonitor

Credit Suisse opens wealth management business in India

Credit Suisse has announced the debut of its wealth management business in the financial capital of India, Mumbai, with plans to open further offices in New Delhi and Bangalore within three years. This move reflects the significant size of India's wealth management market after two decades of strong economic growth.

Published By Datamonitor

ANZ: Asian expansion on the horizon

ANZ, one of the four largest Australian banks, is planning to expand substantially in Asia. In the next four years, the bank intends to add hundreds of retail outlets in the region. This comes at a time when Australian banks are battling to achieve scale.

Published By Datamonitor

Deutsche Bank: wealth management tools will be warmly received

Retail clients of Deutsche Bank India now have access to more convenient banking and investment with the launch of web-enabled wealth management tools. The tools allow customers to view and manage all their accounts in one place, and are likely to be well received by regular users of the bank's website.

Published By Datamonitor