TL;DR: JPMorgan Chase runs the largest global capability center in the Philippines, with an estimated 21,000 employees. Banks dominate the rest of the list: ING, HSBC, ANZ, Deutsche Bank, Northern Trust, Citi and Wells Fargo all run captive centres in Metro Manila. IBPAP and Colliers count about 200 GCCs employing about 270,000 people in 2025.
In February 2025 Chevron said it would cut as much as 20% of its global workforce, about 9,000 jobs, by the end of 2026. Five months later it said it would move finance, HR and IT work from several countries into its Manila service centre.
The Philippine GCCs that grow fastest are often the ones absorbing work their parents are cutting elsewhere.
15 GCCs in the Philippines at a Glance
| Centre | Parent (HQ) | City | Opened | Published headcount |
|---|---|---|---|---|
| JPMorgan Chase Global Service Center | JPMorgan Chase (US) | Taguig, Cebu | 2005 | About 21,000 (Jul 2026) |
| ING Hubs Philippines | ING (Netherlands) | Taguig | 2013 | 6,500+ (2026) |
| HSBC Global Service Centre | HSBC (UK) | Quezon City, Alabang | 2004 | 5,000+ |
| Shell Business Operations Manila | Shell (UK) | Taguig | 2004 | 4,500+ (Sep 2024) |
| ANZ Group Capability Centre | ANZ (Australia) | Quezon City, Makati | 2010 | 2,000+ |
| Deutsche Knowledge Services | Deutsche Bank (Germany) | Taguig | 2005 | 1,200+ |
| Northern Trust Manila | Northern Trust (US) | Taguig | 2014 | 1,200+ |
| TrendLabs Philippines | Trend Micro (Japan) | Pasig | 1998 | 1,000+ |
| Chevron Manila service centre | Chevron (US) | Makati | 1998 | 1,000+ |
| Canva Manila | Canva (Australia) | Makati | 2014 | 1,000+ |
| Thomson Reuters Manila | Thomson Reuters (Canada) | Taguig | Not published | 1,000+ |
| Citi Solutions Center Manila | Citi (US) | Taguig | Not published | Nearly 7,000 across all of Citi Philippines |
| Wells Fargo Philippines | Wells Fargo (US) | Taguig | 2011 | Not published since 2020 |
| Lexmark Cebu | Xerox (US) | Cebu | 2001 | Not published |
| Standard Chartered Group Services Manila | Standard Chartered (UK) | Makati | 2024 | Not published |
- 1Nine of the 15 are banks. Finance, not software, is what the Philippine GCC market was built on.
- 2An export centre can pay 5% of gross income in place of all national and local taxes, and keep that with up to half its staff working from home.
- 3A foreign-owned company serving the local market needs US$200,000 in paid-in capital. One that exports at least 60% of its services sits outside that floor.
- 4The US HIRE Act, a proposed 25% tax on outsourcing payments, has sat in the Senate Finance Committee since October 2025.
The 15 Global Capability Centers, One by One
A global capability center is an offshore unit a company owns and staffs with its own employees, instead of contracting the work to a vendor. That rules out Concentrix, TaskUs and the rest of the third-party BPO industry, which our list of offshore staffing companies in the Philippines covers. The order runs from the largest published headcount down.
1. JPMorgan Chase Global Service Center
JPMorgan Chase is the largest GCC in the country by a wide margin. IBPAP president Jack Madrid put it at an estimated 21,000 employees in July 2026, GMA News reported.
The bank opened its Global Service Center in Manila in 2005 and in Cebu in 2010. The work covers analytics, finance and accounting, voice-based services and transaction processing for its consumer, commercial and investment banking arms. About 16,000 of the staff are in Manila, split across two neighbouring towers in Uptown Bonifacio, BusinessWorld reported in April 2025.
It is still adding space. The same report had the JPMorgan Chase Center at 20 floors and about 8,000 seats, and the bank was fitting out four more floors, about 2,000 seats, for early 2026.
2. ING Hubs Philippines
ING's attrition was 8.7% in 2025, against a 14% to 18% benchmark for global capability centers, the Daily Tribune reported.
The hub started in 2013 as ING Global Shared Operations, doing in-house processing. It now runs more than 286 services for 40 countries, from financial-crime and fraud prevention to retail and wholesale banking technology, risk, compliance and legal. ING's careers page gave more than 6,000 employees in 2024, and its Great Place to Work profile gives more than 6,500 in 2026.
3. HSBC Global Service Centre
HSBC runs two service centres, one at the UP-AyalaLand TechnoHub in Quezon City and one at Northgate Cyberzone in Alabang. Its Philippine careers page says they provide "essential operational services to the bank's Global Businesses and Global Functions worldwide".
HSBC's Philippine site puts the service centres at more than 5,000 employees. The operating company, HSBC Electronic Data Processing (Philippines), dates from 2004, and HSBC marked 150 years in the country in 2025.
4. Shell Business Operations Manila
Shell's Manila centre started in 2004 with fewer than 50 staff and had more than 4,500 by its 20th anniversary in September 2024, The Manila Times reported.
The work is finance, HR, customer service, order-to-delivery, contracting and procurement for Shell companies worldwide, run around the clock. Manila is one of four Shell Business Operations hubs, alongside Chennai, Krakow and Kuala Lumpur.
5. ANZ Group Capability Centre Manila
ANZ files its Manila team under "Group Capability Centre" on its own careers site, one of the few banks to use the GCC name outright. The page says more than 2,000 people work across two campuses, in Quezon City and Makati, serving close to 30 countries and regions.
One detail says a lot about who the centre serves. ANZ tells applicants some employees can align their shifts with Australia's time zone, which sits two to three hours ahead of Manila. The work spans technology, customer service, institutional operations, financial markets and finance.
6. Deutsche Knowledge Services
Deutsche Knowledge Services is Deutsche Bank's Manila shared service centre, created in 2005. It covers finance, operations, technology, risk control, HR, compliance and anti-financial-crime work, supporting the full life cycle of a trade. Deutsche Bank's Manila careers page puts it at more than 1,200 professionals.
The bank itself has been in Manila since 1977 and marked 50 years in the country in 2025. It says many Manila roles now carry global responsibility rather than serving one region.
7. Northern Trust Manila
"We began our journey in 2014 with our first 100 employees, supporting non-complex processes. Through agility, resiliency, innovation, and excellence, we have evolved into a dynamic hub with diverse capabilities and a thriving workforce of over 1,200."
Coy Macaspac-Ordonez, country executive, Northern Trust Manila
That quote, from Northern Trust's Manila careers page, is the textbook path for a Philippine GCC. The centre began with simple processing for the Chicago custody bank. It now does client-facing work plus data warehousing, analytics and technology, and the company calls it a critical global capability center.
8. TrendLabs Philippines (Trend Micro)
Trend Micro's Manila centre is the clearest counterexample to the idea that Philippine GCCs only do back-office work. TrendLabs runs 24x7 threat surveillance and attack prevention, global technical support and R&D from Pasig, and the company calls it "the backbone of the Trend Micro service infrastructure".
It is also one of the oldest captives in the country, established in 1998, and Trend Micro's Philippine careers site puts the team at more than 1,000. The Japanese security company cut 2% of its global staff in January 2024; no Manila figure was given.
Sorted by what they do, the finance-heavy shape of the market is plain. Most bank centres began with operations and have been adding technology, the path Northern Trust describes. Outside finance, only Trend Micro and Lexmark run R&D here.
9. Chevron Manila service centre
Chevron's Manila centre, run by Chevron Holdings from RCBC Plaza in Makati, handles finance and accounting, HR, IT, customer relations and procurement for Chevron entities worldwide. Chevron's careers material gives more than 1,000 staff, in an undated figure.
It is gaining work. In July 2025 Chevron vice chairman Mark Nelson told Bloomberg that service centres in Manila and Buenos Aires would take on finance, HR and IT work "that used to be done in multiple countries", as World Oil reported. That is part of a US$3 billion cost-cutting plan.
10. Canva Manila
Manila was the first place outside Australia where Canva put down roots, in 2014, with a team of seven. Canva's Philippines careers page now counts more than 1,000 employees in the country.
It is an operations hub, not an engineering one. Customer Happiness is the largest team, alongside user-voice enablement, design, sales and people operations. Canva, founded in 2012, is the youngest parent on this list.
11. Thomson Reuters Manila
Thomson Reuters' Manila team builds and maintains the content behind its legal, tax, risk and financial-markets products, and supports customers in Asia, Europe, the Middle East and North America. That is knowledge work: reading, classifying and checking the material professionals pay to search.
The branch's Great Place to Work profile puts it at more than 1,000 employees, and 82% of staff rated it a great place to work.
12. Citi Solutions Center Manila
Citi's Manila centre combines two things. It is a regional operating headquarters giving financial, technology and training services to Citi units in more than 90 countries. It also houses Citigroup Business Process Solutions, which runs voice services such as customer service and collections for North America, the UK and Singapore.
In October 2025 Citi rolled out its in-house AI tools, Citi Assist and Citi Stylus Workspaces, to its Manila staff and called the centre one of its largest global delivery hubs, Philstar reported. Citi does not publish the centre's own headcount; nearly 7,000 is the figure for all of Citi in the Philippines, bank included.
13. Wells Fargo Philippines
Wells Fargo's centre has its own address: 1180 Wells Fargo Drive, McKinley Hill. It does application development and support, testing, international operations and back-end banking work, according to the bank's India and Philippines careers page.
Its history is a warning about how fast a parent can move work. In 2020 Wells Fargo relocated about 700 technology roles out of Manila, and the last public headcount, nearly 4,800, dates from March of that year. The centre stayed open and marked 13 years in November 2024, Philstar reported.
14. Lexmark Cebu (Xerox)
Lexmark Cebu is the only centre on this list outside Metro Manila apart from JPMorgan's Cebu site, and one of the few that designs products. Its engineers write firmware and software and design hardware for Lexmark's multifunction printers. A business services unit alongside them handles finance, order-to-cash, procure-to-pay and customer operations.
Lexmark's Cebu careers page calls it one of the company's largest global facilities, established in 2001. The parent changed on July 1, 2025, when Xerox completed its US$1.5 billion purchase of Lexmark, and the Cebu careers page now carries Xerox branding.
15. Standard Chartered Group Services Manila
Standard Chartered picked the Philippines in January 2023 for its fifth global business services hub, after China, India, Malaysia and Poland, Philstar reported. The Makati centre was due to be fully operational in 2024, doing technology and finance services, cyber security and banking operations.
It shows the market is still gaining new entrants. In May 2026 State Street announced a Manila office for investment-servicing work, due to open in the second half of the year, its release said. IBPAP says the country adds about 10 GCCs a year.
Why the Centres Keep Coming to the Philippines
English and scale. The Philippines is the world's second-largest GCC delivery location after India, according to Everest Group figures cited in a 2026 white paper by Colliers, IBPAP and ZMG Ward Howell, SunStar reported.
The English numbers explain the bank-heavy list. On the EF English Proficiency Index 2025, Filipino accounting and finance workers scored 599, higher than any other job function measured and far above the global average of 488. Manila scored 603 and Cebu City 585.
Pay sits well below what these parents pay at home. JobStreet's September 2026 figures, taken from job ads, put the median software engineer at ₱50,000 a month, and accountants and financial analysts at ₱35,000.
Those are base salaries. Employer contributions and the 13th-month pay come on top, as our Philippines payroll, benefits and tax guide sets out, and the cost to hire in the Philippines gives loaded monthly figures by role.
GCCs are also the part of the industry IBPAP is counting on. In July 2026 it cut its 2028 targets for the whole IT-BPM sector, blaming AI and competition, BusinessWorld reported. The old goal was US$59 billion in revenue; the new best case is US$50.5 billion.
"AI is a real development, but I think we have not really seen it scale yet."
Jack Madrid, IBPAP president and CEO, BusinessWorld, July 2026
Tax and Rules for a Philippine GCC in 2026
The CREATE MORE Act of November 2024 reset the incentives most GCCs run on, and the rules around it kept moving through 2026.
Under RA 12066, an export enterprise chooses between two regimes after an income tax holiday of four to seven years. It can pay the 5% special tax on gross income, or the 20% corporate rate with extra deductions.
- 5% of gross income
- Replaces all national and local taxes and fees
- Export enterprises only
- 20% tax on taxable income, against 25% regular
- 100% extra deduction on power costs
- Local tax of up to 2% of gross income
The work-from-home rule matters most for a GCC. Registered companies may run telecommuting for up to 50% of their total workforce and keep their incentives, under section 309 of the Act.
The US HIRE Act is the risk on the horizon. It would put a 25% excise tax on payments to foreign providers for services aimed at US consumers and deny the deduction, which PwC's Janice Mays put at a combined 46% rate, Thomson Reuters reported. The bill has not moved since it went to committee.
How a GCC Gets Set Up in the Philippines
Most centres on this list are Philippine corporations or branches registered with the SEC, then with PEZA for the incentives. The SEC must register a company within 15 days of a complete filing under the amended Foreign Investments Act. The PEZA board meets twice a month, and an application filed three days before a meeting makes its agenda.
Capital depends on who the centre serves. A foreign-owned company selling to the local market needs US$200,000 in paid-in capital, or US$100,000 with advanced technology or a majority-Filipino staff of at least 15. A GCC exporting at least 60% of its services is not held to that floor. Foreign managers on PEZA-registered projects can get a two-year PEZA visa.
Starting a Philippine Team Before the Entity
Canva started with seven people and Northern Trust with 100. A first team that size rarely justifies an entity and a PEZA filing. We employ staff in the Philippines through our own Philippines employer of record, so the team works for you from day one and moves to your entity when it exists.
We also find the people. Browse vetted developers in the Philippines, or compare with the GCCs in Vietnam, where the centres lean towards chip design. Then tell us what the centre will do, and we will send profiles within 24 hours.
Frequently Asked Questions
What is a global capability center?
A global capability center (GCC) is an offshore unit a multinational owns and staffs with its own employees to serve the wider group, in operations, technology, finance or R&D. It used to be called a captive or shared service centre. India has the most, with 2,117 in the 2026 Zinnov-Nasscom count.
What is the difference between a GCC and a BPO?
Ownership. A GCC's staff work for the parent's own Philippine company and serve only that group. A BPO such as Concentrix employs its staff and sells their time to many clients. IBPAP expects traditional BPO to keep the majority of the industry's jobs.
Where are GCCs located in the Philippines?
Mostly in Metro Manila: Bonifacio Global City and McKinley Hill in Taguig, Makati, Ortigas, Quezon City and Alabang. Cebu is the largest centre outside the capital, and the Colliers white paper names Davao, Pampanga, Iloilo and Bacolod as the next locations.
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