<p>Centers of Excellence (CoE) is a global sourcing initiative designed to leverage talent around the world and maximize efficient use of Credit Suisse's resources. The Polish CoE is the most recent addition to the existing program, with similar CoEs already established in Singapore, Raleigh-Durham in North Carolina, US and Pune, India. <br /><br />The decision to locate the new establishment in Wroclaw came down to the fact that the site provided both a well-educated labor force and good infrastructure at a competitive cost level. <br /><br />The new center is scheduled to become operational during the third quarter of 2007 and will accommodate around 400 employees. Most of these employees will initially work in the operations area, but Credit Suisse plans to introduce additional bank functions at a later stage. <br /><br />Centers of Excellence is a key strategic initiative for Credit Suisse which continues to enhance operational efficiencies for the integrated bank, commented Tom Sanzone, chief information officer and head of the CoE program at Credit Suisse. The choice of Poland as the location for our new CoE represents our commitment to the region. We also believe that it will support the goals of efficiently deploying our best talent, enhancing shareholder value and improving client services.</p>
