An insight into HSBC's technology practices

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When it comes to technology, HSBC doesn't do (much) outsourcing, nor does it allow "low performers" in-house to stick around for long. However, it looks after those IT workers it values, and has plans to add to its ranks again this year.

Banking Technology magazine has featured a wide-ranging interview with Ken Harvey, chief technology and services officer at HSBC.

In it he points to the fact that just 4% of software development is outsourced - compared to an industry average of 24% - and says that (good) techies stick around. "We pride ourselves that the retention rate of our high performers is extraordinary," he said. "We tend to manage out low performers fairly quickly," he added.

Harvey was, of course, talking about the bank as a whole, where the primary focus over the last few years has been on paring back costs through the development of its One HSBC technology transformation project.

Looking specifically at HSBC's corporate and investment bank, headhunters tell us that it has been "actively recruiting across several of their technology areas" over the last six months.

One particular sector of note is foreign exchange. Having hired Anthony Woolley as global head of FX e-Commerce IT in August last year, it is now thought to be adding headcount in this area.

It's also believed to be recruiting for a securities processing programme, and is on the hunt for project managers, technical architects, developers and business analysts, according to recruiters.

There are also thought to be IT roles on offer around its recently launched HSBC Prime Services business.

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