Amba Research poaches Citi banker

Citi's head of global transaction services in Indonesia, Anand Pande, joins the India-headquartered investment research outsourcing firm as group CEO.
Knowledge process outsourcing firm Amba Research has appointed Citi banker Anand Pande as group chief executive officer.

Pande was previously a managing director and head of global transaction services for Citi in Indonesia. He has also held several other senior roles across Asia at Citi. Between 1989 and 1998 he worked for ANZ Grindlays Bank and ICICI in India.

In his new job, Pande will be responsible for leading and growing Amba's business worldwide. He will work alongside Amba's co-founders, who will remain focused on working with key customers.

ôIn these volatile times, our clients in the asset management and investment banking industries are looking for cost effective ways to maintain, support and even grow their analytical and research activities, in a manner that creates a robust platform for revenue growth and investment outperformance,ö says Pande in a written statement. "I am confident that Amba Research's domain expertise and widely experienced management team leave it well positioned to meet these objectives."

Amba Research provides equity research, fixed income research and quantitative research for the global capital markets and the banking industry. It is part of a wave of companies emerging in India which are moving up the value chain in outsourcing to provide specialised, high value-add services.

Amba was founded by four veteran bankers from Wall Street firms: Andrew Houston was the head of Asia ex-Japan Research at JPMorgan; Brad West was the head of global emerging markets equity research at Deutsche Bank and has also worked at CLSA; Anand Aithal was Asia equity strategist at Goldman Sachs and also led Goldman's research joint venture in India; and Mohan Alexander was deputy head of Asia research and head of India research at Deutsche Bank and had also worked at Lehman Brothers. The four got together to start an investment research outsourcing firm that provides well-trained junior and mid-level research analysts.

Amba's team works on the basics of investment analysis, such as detailed financial models, background write-ups on companies/industries and valuation analysis. It has offices in New York, London, Singapore, Bangalore, Colombo and San Jose.
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