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Hyderabad, March 12 Broadridge Financial Solutions, a $2-billion global technology outsourcing solutions provider for financial services companies, is in the process of consolidating its India operations, which have grown over the last year since its demerger and spin-off from ADP.

The company has established its own centre here and is now looking at the next phase of growth and also evaluating the possibility of serving some customers in the region particularly in corporate governance.

The Chief Executive Officer of Broadridge, Mr Richard J. Daly, told Business Line “the year 2007 has been very eventful for the company with the Indian operations shaping up well. We believe no other centre offers such a large talent pool that is able to handle the entire business solutions that Broadridge offers.”

The company is now deploying a select group of people for specialised work experience and subject matter experts in the company’s US operations to help them understand the market conditions and its business requirements better. They would then return and groom the others, he said.

“We are in the outsourcing business and help large financial services players manage their investor communications, securities processing, clearing and outsourcing solutions. Our services are somewhat unique and are different from companies that provide outsourcing services in India,” he said.

Mr Daly said what is being witnessed in the US financial services sector is nothing new. These are part of business cycles and they come and go.

Referring to the 1987 crash and post 9/11 developments and the business cycles that followed, he said that this time around the slowdown is no different. Typically, the slowdown tapers, and then is followed by a flat movement with a sudden spike thereafter. It would not be surprising to see similar thing happening all over again with a significant surge in financial services activity.

For instance, if the mortgage business is down, new channels of business crop up, be it in the form of municipal and corporate business areas, he said.

Typically, when a slowdown happens, clients want their business to get more efficient and this translates into sending work to those who offer services efficiently at lower costs. And outsourcing is no exception to this, he said.

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Broadridge consolidating India operations

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