Bank of America Sets Up Subsidiary in India
OUTSOURCING
LONDON--Bank of America (BofA) officials last week confirmed that the firm will transfer some of its operations to a wholly owned subsidiary based in India, which the bank plans to set up next year.
A spokesperson for the bank in London says management is currently looking at all operations and business areas globally to see what areas are suitable to be transferred offshore. The spokesperson was unable to confirm whether any IT development or maintenance functions would be performed by the new
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