US banks outsource mid-level jobs

US banks are outsourcing work typically handled by middle-level executives offshore, reports LiveMint.

Banks in American states such as Texas, Georgia and North Carolina are making the transition.

The cost savings from moving mid-level jobs could be as high as 60%, but involves removing fewer employees, says Naresh D'Mello, chief operating officer of Artha Shastra Applied Economic Consulting.

SunGard has unveiled the Kiodex Middle-Office Outsourcing service for traders, hedge funds, and corporations in the energy and commodity markets, writes PRWeb.

The service incorporates software solutions that can help customers measure risk, design optimal hedging strategies, improve price execution and comply with accounting best practices.

Stephen Bruel, research director at research and advisory firm Tower Group, says: "In the energy and commodities space, we expect to see increased demand for services like SunGard's that offer needed efficiencies, dependability and a customised approach to outsourcing."

Hitachi and Telehouse will jointly develop a high-density data centre within Telehouse London Docklands West, reports TMCnet.

The data centre will augment Telehouse's outsourcing service with the provision of Hitachi's eco-friendly modular data centre technology.

Hitachi states the partnership gives it the opportunity to continue to drive technology development for eco-friendly data centres, allowing Telehouse London to expand its data centre business by adding high-density data centre capability.