We were a bit alarmed when we first read the title of this CNN article.

Supposedly, i-banking is moving offshore, like everything else. The offenders purportedly include: Citigroup, Morgan Stanley, Lehman Brothers and JPMorgan Chase.

But like most articles, this one is B.S. So some of you can breathe a sigh of relief … but others, yes, your job is in danger.

Turns out those companies have offshored their research activities, but not what most of us would consider “investment banking.”

Here’s a quote from the article:

“Investment banking has a lot of number crunching that to a large degree can be done anywhere,” said Alenka Grealish, manager of the banking group at Celent LLC. “By taking press releases and data feeds and digesting them offshore, the components can be made into basic analyst reports” that are available to clients early in the morning.

P.S. it makes perfect sense to outsource research, especially since bank research is not credible and a money loser overall.

Call centers are also on the move, so if you were thinking of taking that job as a phone rep, think again.

The article goes on to quote a bunch of consultants about how the economics of banking mandate offshoring. Like, what economics? MASSIVE profit margins?

But who knows, we may be wrong here. If your job has been outsourced, write to us at editor@bankersball.com and we’ll do a sad, sad feature story on you.