Wall Street banks are set to rely more on their Indian business support centers following President Donald Trump’s shock move to impose $100,000 feeson new applications to the widely used H-1B visa program.
US lenders including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc.are among the biggest employers of India’s so-called global capability centers, which handle operations from trading support and risk management to tech assistance. Staffed with software engineers, quants and accounting specialists, the centers offer low-cost services while giving firms access to skilled talent not readily available in their home markets. ...
