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Bank of America Will Open Subsidiary in India Next Year.

By Sarah Jane Tribble, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News

Oct. 14--Bank of America will take its ongoing outsourcing programs one step further next year when it opens its own subsidiary in India next year.

The subsidiary will open by April 2004, but the bank has not named the unit or announced the number of employees who will be working there.

Bank of America declined to say in what city the company will locate the subsidiary, but told employees last week that India is a prime location in part because of the available well-trained work force.

Bank spokeswoman Mary Waller said the bank has not determined what work will be ...

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