Finance Jobs Moving to India |
11 Jun 2007 |
| Life funds management firm Resolution has announced the possible loss of 500 jobs with the outsourcing of operations in Glasgow and Birmingham.
Resolution which manages funds for Scottish Mutual, Scottish Provident and Phoenix Life Assurance, has unveiled a deal with Capita. Under the agreement, 2,000 staff will transfer to the giant Capita group. Customer service and IT positions will remain in the UK but 'back office work' will be outsourced to India. More than 1,500 staff are based in St Vincent Street and Bothwell Street, Glasgow and about 450 staff are located in Wythall, Birmingham. Resolution bought Scottish Mutual Assurance, Scottish Provident and Abbey National Life from Abbey last year after the UK banking giant's Spanish owners, Grupo Santander, decided to offload its life fund businesses. |
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