StanChart Bk targets to hire 3500 people in 2008

Here is a verbatim transcript of Gopika Gopakumar and Taapsi Ramchandani's comments on CNBC-TV18. Also watch the accompanying video.

 

Inspite of a contraction in the job market in the financial sector globally, Standard Chartered targets to hire 3500 people in 2008. The bank has already hired 2500 people till August and is looking to hire another 1000 by the year-end. Though this year the figure is slightly below last year's figure of 4,600 hires, the important point is Standard Chartered Bank is still looking to expand in India.

 

Tracy Clarke, Global Head - HR, Standard Chartered Bank said, "We are aggressively recruiting in India, China and Singapore. We are actively building private bank at the moment through the acquisition of American Express Bank. We are also looking for private bankers in Asia for a new business."

 

Besides India, Standard Chartered Bank said it is aggressively recruiting in China and Singapore as well. Worldwide, it expects to hire 20,000 people by the end of next year. This large scale hiring is also because the bank expects a higher attrition in some countries especially India. Again indicating the robustness of the financial sector job market in India

 

It's not just the Standered Chartered Bank which is looking to recruit in India. Earlier this week CNBC-TV18 reported that the country's largest bank, State Bank of India is currently hiring around 20,000 employees for their new operations across the country. More proof that the Indian financial sector is still buoyant.