Morgan Stanley will move about 75 jobs from its operations team in Shanghai to India and Hong Kong, Bloomberg reports, citing an unnamed source.
The Wall Street bank is seeking to improve back-office efficiency, the report says.
Morgan Stanley plans to shift a third of the affected positions to Hong Kong and the rest to India.
The relocation will result in some job losses in mainland China, and the bank will hire in India to make up for those.
A Beijing-based spokeswoman for Morgan Stanley is quoted as confirming the redeployment.
The operations team provides back-office support to the firm’s regional businesses.
The relocation won’t affect the bank’s technology and data support group based in Shanghai, the report says.
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