LONDON: At the centre of a probe into black money allegedly stashed by Indians in Swiss banks, global banking giant HSBC increased its headcount in India by 1,000 last year to 32,000 — the second highest after the UK. As per the bank’s latest annual report, it had a total worldwide workforce of 2,66,000 full-time and part-time employees at the end of 2014.
This marked an increase from 2,63,000 at the end of 2013, but still below 2,70,000 at the end of 2012. India has been ranked second among its “main centres of employment” after the UK, where it employed 48,000 persons. The Indian headcount has risen from 31,000 at the end of 2013, while that in the UK has also grown from 46,000.
On the other hand, the U.S. headcount has fallen from 16,000 to 15,000, the bank said in its annual report. The bank has listed India as one of the seven ‘priority growth markets’ within Asia. The India headcount rose for the second consecutive year in 2014, after dipping for the four straight years till 2012, when its total employee base in the country stood at 30,000. The UK-based global banking giant had as many as 37,000 employees in India at the end of 2008.
HSBC is facing a multi-nation probe for “alleged tax evasion, money laundering and unlawful cross-border banking solicitation” and it disclosed yesterday that it has been served summons by the Indian tax department as well.
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