US financial services companies relocate

US financial-services companies plan to transfer 500,000 jobs out of the country, but Ireland is placed only ninth in a list of the top ten relocation countries.

A survey by AT Kearney, a management-consulting subsidiary of Electronic Data Systems Corp, found that the trend of relocating jobs out of the US is accelerating and US financial-services companies plan to transfer 500,000 jobs, or 8% of total industry employment, to foreign countries over the next five years.

Up to now, offshore job transfers have primarily focused on back-office functions like the massive