Irevna

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IREVNA, a division of CRISIL
Type Division
Founded 2001
Headquarters Chennai, India
Key people G V Mani
Chris Graham
Ravishankar G
Industry Knowledge Process Outsourcing
Products Equity Research, Derivative Research, Quantitative Research
Credit Research
Employees 550+ (as of 2007 end)
Website www.irevna.com

Irevna is a leading player in the high end Financial Research & Analytics segment of the Knowledge Process Outsourcing (KPO) industry. Founded in 2001, it is now a wholly owned subsidiary of CRISIL Ltd (NSE:CRISIL, BSE:500092). CRISIL’s majority shareholder is Standard & Poor's, a division of The McGraw-Hill Companies and one of the world's foremost providers of financial market intelligence.

Irevna pioneered the concept of "offshoring investment research" to the world's leading investment banks and financial institutions. Irevna helped its clients by conducting equity, credit and derivatives research in off-shore locations, at a time when accepted wisdom did not consider this possible. The company's experts build financial models and draft investment reports, and serve as "intellectual partners" to help generate investment ideas and convert them into actionable investment products.[1]

The company became ISO 27001 (BS 7799) certified in November 2006.

Contents

[edit] Structure

[edit] Ownership Structure

Irevna is a division of CRISIL Ltd, which is India's premier rating agency. CRISIL was incorporated in 1987 and in the same financial year, commenced the ratings of companies. In 2004-05, Standard & Poor's made an open offer to acquire a majority stake in CRISIL. S&P is 100% owned by McGraw Hill.


[edit] Offerings

KPOs working on the financial research space generally undertake any or a combination of Market, Business and Investment research.

Irevna focuses primarily on the high end investment research. Within the investment research profile, it focuses primarily on the following segments:

  1. Equity Research
  2. Quantitative Research
  3. Fixed Income Research
  4. Derivative Research

[edit] Location

Irevna Delivery Centres and Sales Offices
Irevna Delivery Centres and Sales Offices

The company has multiple delivery centres and sales offices across the world. The main delivery centres are located in:

1. Chennai, India: The main delivery location of the company. There are three offices located in various parts of the city. The delivery centres in Chennai cater to European, North American and Asia-PAC clients. The Chennai offices primarily conduct Equity, Derivative and Quantitative research. The latest delivery centre was operational from 2007 onwards.[2]

2. Mumbai, India: The other delivery location in India. This office caters primarily for Fixed Income and credit research. Irevna has recently started delivering other services from this location.

3. Buenos Aires, Argentina: The Argentina delivery centre was opened with the intention of providing real time support for North American operations. The team focuses primarily on equity and credit research. wikimap[3]

[edit] Other Information

[edit] History

Founded in 2001, the company was initially known as Irevna Solutions Pvt Ltd and was based out of Hyderabad, India. The company relocated to Chennai in 2003 and was renamed Irevna Research Services Pvt. Ltd. In 2005, CRISIL announced its intention to purchase Irevna Research Services for an initial cash payment of about Rs 43 crores (Approx US$8.6 Million, based on then USD-INR exchange rate)[4]. The company has since been rechristened as Irevna, a division of Crisil.

[edit] Recognition & Awards

The company has been consistently ranked the best outsourcer in its niche segment of high end financial research & analytics space.

  • No 1 KPO in Financial Services Industry Analytics Outsourcing (2007) [5]
  • No 1 KPO in Investment Research Outsourcing, (2006).[6]

[edit] Competitors

Competition would include other third-party vendors as well as captive units of investment banks. The main competitors in the third party vendors list would include

Adventity
Amba Research
Aranca
Evalueserve

[edit] Notes and references

  1. ^ Mr. GV Mani Named Global Head of CRISIL Irevna Group's Offshoring Business. | Company Activities & Management > Company Strategy from AllBusiness.com
  2. ^ Moneycontrol India :: News :: Irevna sets up its 3rd delivery center at Santhome, Chennai :: :: Press- News :: Irevna,offshore equity ,investment research,Arghya Banerjee,Bhaskar Chakraborty
  3. ^ Irevna
  4. ^ The Hindu Business Line : Crisil buys Irevna for Rs 43 cr
  5. ^ The Black Book of Outsourcing
  6. ^ Wall Street Letter 22 Nov 2006

[edit] External links