HSBC plans more China tech jobs in push for market share
Europe's biggest bank by assets wants to make its presence in China bigger too ... And says it's to boost its headcount there.
HSBC plans to add more than a thousand jobs this year .... A 14 per cent increase in the workforce at its tech centres in Guangzhou, Shanghai and Xi'an They develop and implement risk and fraud management systems, and digital applications to attract and deliver to customers.
The move is seen as part of a push to grab a bigger share of a multi-billion dollar banking market in the world's number 2 economy.
Where, along with India, many global banks set up low-cost hubs over a decade ago.
Outside of China, HSBC employs over 10,000 people at tech centres in India, with the rest in the UK, Canada, Hong Kong and the US .... In a global tech headcount of 40,000.
Its tech operations have seen the London-based bank spend 3 billion dollars annually.
Three to three and half billion per annum is planned over the next few years.