Credit Suisse First Boston has opened a new back office hub in Singapore to add to its existing support centres in New York and London.
The hub operation is located near Changi International airport and will employ about 350 staff by the end of the year. The 30,700 square foot centre has been established to support the group's international business in the Pacific region and provide business continuity services.
Bank officials say the new centre will also help the bank handle straight-through processing and make clearing and settlement more efficient for products traded across time zones.
CSFB's head of global technology, operations and product control, Eileen Murray, was in Singapore for the official opening of the new site.
"These new premises will create a vital hub for CSFB's world-wide IT services, back-office support and operations," she says.