Banks send investment banking offshore - Feb. 22, 2006

Banks send investment banking offshore - Feb. 22, 2006

First came IT outsourcing. Now comes investment banking.

After years of outsourcing technology support and other back-office operations to countries like India and China, financial institutions are increasingly looking to move large portions of their investment banking operations abroad, according to a recent report by Deloitte Touche Tohmatsu.

Faced with a dearth of skilled workers and shrinking profit margins, banks that want to remain competitive in the global marketplace can't afford to miss out on high-quality -- and cheaper -- foreign talent, the report said

This is high-end work!!!