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FRESH START: Mr Paul Calello (right), Chief Executive Officer, Asia Pacific, Credit Suisse, and Mr Eoin O'Shea, COO, Asia Pacific, at a press conference in Mumbai on Thursday. — Shashi Ashiwal

Mumbai , Nov. 2

The Zurich-based Credit Suisse is to restart broking and asset management activities in India.

Speaking to reporters after launching its new `Centre of Excellence' initiative in Pune, Mr Paul Calello, CEO - Asia Pacific Region, said, "We are working our way to restart operations in India. We will begin once we get regulatory approvals."

Credit Suisse plans to offer investment banking, private banking, asset management and brokerage facilities in India.

In 2001, the Securities and Exchange Board of India had suspended the Indian arm of Credit Suisse from broking activities for two years on charges of price manipulation. It did not subsequently resume operations after the ban period.

The Swiss banker is launching a `Centre of Excellence' in Pune, similar to the ones in Singapore and North Carolina. The Centre will support the bank's businesses across 50 countries globally.

"We have tied up with Wipro Technologies for setting up the sourcing centre. The Pune site will support a staff of 1,500 working on a wide range of banking functions including information technology, banking operations, finance and front office analytics. Wipro will provide technical skills and train work staff for Indian workforce," said Mr Calello.

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Credit Suisse to restart operations in India

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