HSBC plans to set up IT headquarters in India: report

HONG KONG (AFX-ASIA) - HSBC is planning to locate its information technology headquarters in India, the Hong Kong Economic Times cited market sources as saying. The sources said the plan is expected to affect more than 1,000 employees who are working in the bank's data centre in Hong Kong. The sources said before the establishment of the IT headquarters, HSBC will spin off its IT division to set up an independent company. They said the selection of India was based on wage and IT infrastructure consideration. Under the plan, HSBC will cut the number of its global data centres to 25 from the current 40, the sources said, adding the bank will keep its data centre in Guangzhou.

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