Wilco appoints Indian MD to board

Shakti Sagar''s promotion seen as reward for success of Hyderabad operations.

Wilco International, an international software and services provider focused on retail and institutional straight-through processing, has announced the appointment of Shakti Sagar, managing director of Wilco India to the board of directors of Wilco International.

Sagar has been managing director of Wilco India since Wilco acquired its operation in Hyderabad from investment bank DE Shaw in 1999. Before the acquisition by Wilco, Sagar was one of four senior managers who left Intergraph Consulting in Hyderabad in 1996 to set up DE Shaw's offshore development operation in Hyderabad.

Since the acquisition from DE Shaw, Sagar has overseen a rapid period of growth in Wilco's Hyderabad based development operation, with headcount tripling since 1999.

The Hyderabad office has contributed a large percentage of the resources involved in recent product developments for Wilco , as well as for customer specific developments, particularly for the Asia Pacific markets. In addition, Wilco's Securities Data Management Service, based in Hyderabad, offers outsourced data management and cleansing services.

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