London, New York, NY and Delhi – Markit, a financial information services company, has opened an office in New Delhi, India. The new office extends Markit’s global reach and will strengthen the company’s ability to support clients based in the region. Markit India is the company’s fourth office in the Asia-Pacific region.
Markit India has been established through the acquisition of Seagal Financial Securities, a specialist offshoring and outsourcing company that Markit has worked with since 2004. The new office will provide product support to a wide range of Markit products and services, and will allow Markit to work closely with the domestic banks to improve transparency and reduce risk in the financial markets.
Lance Uggla, Chief Executive Officer of Markit, said: “The launch of Markit India brings us closer to our clients in the region and will allow us to better serve our growing client base in India. Markit India will also allow us to capitalise on opportunities in the rapidly expanding financial markets in India and develop new products to improve transparency and reduce risk in the global markets.”
Faisal Adeel, Director at Markit, will run Markit India and will be responsible for business development, sales and customer support. The office has 80 employees and staff numbers are expected to expand significantly over the next 12 months.
Faisal Adeel, Director and Head of Markit India, said: “Markit India represents an exciting opportunity and will allow us to enhance customer service and product development. The new office will expand our market reach and enable us to tap the strong demand for our pricing and valuation services in the region.”
Bob Madan, CEO of Seagal Financial Securities, said: “Seagal Financial Securities has been providing outsourcing services to Markit for the last five years. I am pleased that Markit has found great value in our services and we are excited about Markit’s plans to leverage our expertise and expand the operation. We wish Markit every success in their venture which will reinforce our firm’s long-standing commitment to improving and optimising core and supportive business processes for the financial markets.”
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