Credit Suisse plans to set up a second 'centre of excellence' in India and hire 350 staff by 2010, as it continues to offshore more jobs to cheaper locations.
The Swiss bank says the new office in Mumbai will focus on investment analysis, risk and analytics modelling.
Credit Suisse's first Indian facility was opened in 2007 at Pune and employs more than 1600 IT support staff.
Some Pune jobs will be transferred to Mumbai, says the bank, as well as positions currently undertaken in other Credit Suisse offices worldwide.
The new back office is slated to open for business in September and will initially employ 150 staff.