June 20, 2012

His business has about 35,000 employees, with about 500 in India and Chile, he said at the time. Financial services firms often shift technology and processing tasks offshore.

In 2006, Wells Fargo opened a "technology resource center" in India's Hyderabad to provide software development. Wachovia, which Wells Fargo acquired in 2008, began partnering with Indian outsourcing firms such as Genpact Ltd in 2005.

(Reporting by Rick Rothacker; Editing by Paul Tait)

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