Rising operating costs have plagued the bulge-bracket banks, sending them flocking to the cheap yet highly educated, English-speaking labor available in India. More middle-market firms are now following in their footsteps. Among those areas increasingly targeted for outsourcing are research related to equities, investment banking and M&A, people in the outsourcing field said.
Copal Partners, an investment research and analytics firm providing services to the US and European financial institutions, is expanding its Delhi operations to 225 professionals by the end of this year and to 400 by the end of 2006. Four months ago, it had just 100 employees.
Copal Partners, a global researcher, expects to boost its staff of 175 analysts in New Delhi to 225 by year end, as demand has picked-up. "The Delhi operation has almost doubled in size in the past several months and...well grow to become 400 analysts by the end of 2006," said Rishi Khosla, co-founder and CEO. Copal outsources research from India to U.S. financial institutions.
