Kanbay to hire 2000 more in India

BANGALORE: Kanbay India, a wholly-owned subsidiary of US-based financial services and technology consulting firm Kanbay International Inc, will recruit another 2000 people within a couple of years.
The company''s development facility in Pune - largest e-solutions centre in the world - currently employs 1000 engineers.
Kanbay International chairman and CEO Raymond Spenser said that in addition to expanding its existing Pune facility, the company will set up its second development centre in India. Although Kanbay is currently reviewing more than two locations, the proposed 500-strong (to start with) facility is likely to be in Bangalore, he indicated.
Spenser said, "The group has comprehensive plans for India especially with the country emerging as a strong player in insurance and financial services." Kanbay has already invested over Rs 25 crore in its Pune facility while a "much bigger sum" will be pumped in towards expansions including setting up an additional facility, he said.
The company is currently working with HDFC for credit card services and solutions. "We are in talks with four large financial institutions in India and hope to start working with them by end this year." Globally, the company services clients like Morgan Stanley, AIG International and Citi Group.
Kanbay offers complete lifecycle services from programme management to maintenance and support. Its service offerings include card services, banking and lending, insurance (life, health, property and casualty), securities, investment banking, retail banking, technology focused solutions, application development and integration, application outsouricng, packages implementation, payment systems and business intelligence.
The company has e-solution centres in Chicago, New York and Melbourne. During last year, the company posted a turnover of $77 million.
Morgan Stanley, Household International and Safeguard Scientifics together hold a 33 per cent equity in Kanbay International while the rest being held by promoters and employees.