Copal Partners, a New York-based firm that outsources research from India to U.S. broker-dealers, expects to boost its staff of 100 analysts in New Delhi by 20-30% this year as demand picks up. Copal performs equity and fixed-income research for U.S. and foreign investment banks, brokerages and fund companies. "In the last six months, banks have become much more open to outsourcing.
Copal Partners, an outsourcer of capital markets research for a number of U.S. investment banks, is benefiting from the pickup in M&A activity with its revenue growing by 15% each month, according to Rishi Khosla, CEO and co-founder in London.
Not too long ago, when Rishi Khosla cold-called the manager of a Wall Street mergers-and-acquisitions desk to pitch his services --outsourcing deal research as well as customized stock and credit analysis to India -- the manager told Mr. Khosla that he didn't understand the M&A business and hung up on him.
