Group chief executive Keith Whitson said in the bank's latest annual report that 'further centres will open in Shanghai and Bangalore in 2002.'
The processing and back office operation centres will take on more functions previously undertaken in more expensive areas in the world such as Britain, Hong Kong and the United States.
HSBC To Create 2,700 Jobs
In what many believe to be the shape of things is to come, HSBC Holdings confirmed last week that it will hire 2,700 more people in China and India in 2002 as it expands its operations in these low cost countries.
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