One of the leading American financial services corporations worldwide, Citi has been outsourcing its tech operations since 1992. The company runs multiple offshore locations across India, the Philippines, and Poland. Moreover, in 2012 Citigroup has reportedly cut 11,000 jobs at its HQ, at least a quarter of which were IT-related positions. Most of their IT operations are now carried out offshore.
Alongside their so-called “centers of excellence” (offshore development centers run by Citigroup) the company has ongoing relationships with a number of outsourcing companies, including TATA Consultancy Services and Wipro.
Citigroup is not the only banking giant to have moved tech skills offshore: Other names include Bank of America, Barclays, Goldman Sachs, and J.P. Morgan.