Deutsche Bank has signed a letter of intent to set up an offshore operations centre in Jaipur, India.
Deutsche Bank Operations International has signed a deal with the Government of Rajasthan last week to develop the new centre at the Mahindra World City, which is a 'special economic zone' (SEZ) covering 3000 acres.
The German bank already operates similar centres in the Indian cities of Mumbai and Bangalore.
According to reports the Deutsche Bank facility will cover 2000 square feet and have a seating capacity of 2000. The centre is expected to be operational in June 2008.
In a statement Arindam Banerrji, MD and global COO of Deutsche Bank Operations International, says: "Our growth plans for Jaipur are significant and we intend to commence recruiting in 2008. Drawing from the locally available talent, our new centre will create job opportunities in Jaipur and will also provide exposure to an international banking processing environment."
In a separate move Swiss banking group UBS says it will add 1000 new jobs at the Indian offshoring facility that services its US and European operations.
Manisha Girotra, MDr and chairperson for UBS India, also told delegates at the Reuters India Investment Summit that the bank intends to nearly double its investment banking staff in the country to up to 180 in the next year.