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BPO company specializing in high-end finanacial analytics by the name Adventity has acquired a home mortgage company in Texas. Adventity provides back-end services to investment banks, hedge funds, private equity investors and asset managers based in the US and Europe. The company has a staff strength of 1,000. Adventitys processing facility is based in Thane. This is the first time an Indian BPO has bought out a mortgage company in the US. Adventity plans to use the Texas based company to function as a front end interface to its mortgage clients in the US. Adventity will use the US companys domain expertise for processes where it does not possess similar skill sets. Adventity plans to move several of the acquired companys processes to India ,retaining only those functions essential to interfacing with the US clients. Adventity is founded by a group of bankers. The company has succeeded in a acquiring clients in the global financial industry space. Adventity has focussed on financial research and analytics for financial markets, banking and mortgage businesses. Large corporations in the US financial industry shift processes to India For example, hiring an entry-level financial analyst in the US costs about $85,000-1,20,000. An associate, with a few years experience as an analyst, draws a salary in the range of $1,50,000-2,50,000.Analysts also draw bonus of about 50% of the salary. |
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| Posted : 10/28/2005 |
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