Irevna
Encyclopedia
Global Research & Analytics - Irevna is an offshoring company based in India
operating in the Financial Research & Analytics segment of the Knowledge Process Outsourcing
(KPO) industry. It is known for its equity, credit, derivatives research for investment banking clients, actuarial support for the insurance companies and research support for corporates. According to Datamonitor's The Black Book of Outsourcing, survey participants ranked Irevna #1 in 14 of the 18 evaluation criteria [2009]
Founded in 2001, it is now a division of CRISIL
Ltd (NSE
:CRISIL, BSE
:500092). CRISIL’s majority shareholder is Standard & Poor's
, a division of The McGraw-Hill
Companies and one of the world's providers of financial market intelligence.
In September 2010, CRISIL-Irevna signed an agreement to acquire Chicago-based Pipal Research Corporation (Pipal), another player in the KPO space for a consideration of $12.75 million. This marked the first acquisition of a KPO firm by a third party pure-play KPO firm. According to CEO of CRISIL Ltd, the acquisition was completely complementary in terms of research centers, business development centres and service offerings.:
CRISIL's offerings includes credit ratings and risk assessment; research on India's economy, industries and companies; investment research outsourcing; fund services; risk management and infrastructure advisory services.
CRISIL's majority shareholder is Standard & Poor's, a McGraw-Hill Company.
The main research centres are located in:
. The company relocated to Chennai
in 2003 and was renamed Irevna Research Services Pvt. Ltd. In 2005, CRISIL
announced its intention to purchase Irevna Research Services for an initial cash payment of about Rs 43 crores (Approx US$8.6 Million, based on then USD-INR exchange rate). The company has since been rechristened as Irevna, a division of Crisil. Subsequently in 2011, the global research support units of CRISIL have been rebranded as "CRISIL - Global Research and Analytics" (Irevna and Pipal serve as exclusive brands for external clients; and a Captive unit)
Irevna moved to Chennai in 2002 with about 20 people. At the start of 2010, the Chennai operations alone have grown over 25 times and accounts for around 40% of CRISIL's global offshoring operations.
Irevna claims to have pioneered the concept of "offshoring investment research" to the world's leading investment banks and financial institutions.
The company became ISO 27001 (BS 7799) certified in November 2006.
Sourced: Datamonitor-Black Book of Outsourcing http://www.datamonitor.com/store/Product/2009_the_black_book_of_outsourcing_state_of_the_outsourcing_industry_report?productid=20109D4A-5FE1-4E55-96EE-E6E9AE6C0F84
s of investment banks.
The main competitors in the third party vendors list would include
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
operating in the Financial Research & Analytics segment of the Knowledge Process Outsourcing
Knowledge process outsourcing
Knowledge process outsourcing is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization, which may be in the same country or in an offshore location to save cost...
(KPO) industry. It is known for its equity, credit, derivatives research for investment banking clients, actuarial support for the insurance companies and research support for corporates. According to Datamonitor's The Black Book of Outsourcing, survey participants ranked Irevna #1 in 14 of the 18 evaluation criteria [2009]
Founded in 2001, it is now a division of CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
Ltd (NSE
National Stock Exchange of India
The National Stock Exchange is a stock exchange located at Mumbai, Maharashtra, India. It is the 9th largest stock exchange in the world by market capitalization and largest in India by daily turnover and number of trades, for both equities and derivative trading. NSE has a market capitalization...
:CRISIL, BSE
Bombay Stock Exchange
The Bombay Stock Exchange is a stock exchange located on Dalal Street, Mumbai and is the oldest stock exchange in Asia. The equity market capitalization of the companies listed on the BSE was 1.63 trillion as of December 2010, making it the 4th largest stock exchange in Asia and the 8th largest...
:500092). CRISIL’s majority shareholder is Standard & Poor's
Standard & Poor's
Standard & Poor's is a United States-based financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. It is well known for its stock-market indices, the US-based S&P 500, the Australian S&P/ASX 200, the Canadian...
, a division of The McGraw-Hill
McGraw-Hill
The McGraw-Hill Companies, Inc., is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, and business services...
Companies and one of the world's providers of financial market intelligence.
In September 2010, CRISIL-Irevna signed an agreement to acquire Chicago-based Pipal Research Corporation (Pipal), another player in the KPO space for a consideration of $12.75 million. This marked the first acquisition of a KPO firm by a third party pure-play KPO firm. According to CEO of CRISIL Ltd, the acquisition was completely complementary in terms of research centers, business development centres and service offerings.:
Ownership Structure
Global Research & Analytics-Irevna is a division of CRISIL, India's leading ratings, research, risk and policy advisory company.CRISIL's offerings includes credit ratings and risk assessment; research on India's economy, industries and companies; investment research outsourcing; fund services; risk management and infrastructure advisory services.
CRISIL's majority shareholder is Standard & Poor's, a McGraw-Hill Company.
Offerings
Global Research & Analytics-Irevna offers services in the following verticals:| Financial Services |
|---|
| Equity Research |
| Credit Research |
| Retail Brokerage Research |
| Derivatives Support |
| Financial Technology |
| FX and Economics |
| Quantitative Analytics |
| Commodities Research |
| Risk Management Analytics |
| Private Wealth Management |
| Insurance Actuarial Services |
| Corporate Services |
|---|
| Strategy and M&A Support |
| Business Research |
| Investor Relations Services |
| Analytical Solutions |
|---|
| Actuarial Valuations |
| Valuation Services |
| Transfer Pricing |
Location
The company has multiple research centres and sales offices across the world.The main research centres are located in:
- MumbaiMumbaiMumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, India: Irevna has two research centres in Mumbai. The first one caters to Fixed Income and credit research; while a second newly built office caters towards Equity and Derivative research. The centre is located near its parent CRISIL Ltd. - ChennaiChennaiChennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
, India: The original research centre of the company. There are three offices located in various parts of the city. The delivery centres in Chennai cater to European, North American and Asia-PAC clients. The Chennai offices primarily conduct Equity, Derivative and Quantitative research. The latest delivery centre was operational from 2007 onwards.Map - PunePunePune , is the eighth largest metropolis in India, the second largest in the state of Maharashtra after Mumbai, and the largest city in the Western Ghats. Once the centre of power of the Maratha Empire, it is situated 560 metres above sea level on the Deccan plateau at the confluence of the Mula ...
: Irevna opened another research centre in the city of Pune. While regular delivery to some clients have started, it is expected to be fully operational by July 2011, first week. - Buenos AiresBuenos AiresBuenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, Argentina: The Argentina research centre was opened with the intention of providing real time support for North American operations. The team focuses primarily on equity and credit research. Map - WroclawWroclawWrocław , situated on the River Oder , is the main city of southwestern Poland.Wrocław was the historical capital of Silesia and is today the capital of the Lower Silesian Voivodeship. Over the centuries, the city has been part of either Poland, Bohemia, Austria, Prussia, or Germany, but since 1945...
,PolandPolandPoland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
: Poland research centre focus on Quantitative Research. - HangzhouHangzhouHangzhou , formerly transliterated as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China. Governed as a sub-provincial city, and as of 2010, its entire administrative division or prefecture had a registered population of 8.7 million people...
,ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
: The China research centre started in 2011 and caters to clients requiring research support in East Asian languages. Services provided include Primary Research support, in addition to Equity and Credit research .
History
Founded in 2001, the company was initially known as Irevna Solutions Private Limited and was based out of Hyderabad, IndiaIndia
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. The company relocated to Chennai
Chennai
Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
in 2003 and was renamed Irevna Research Services Pvt. Ltd. In 2005, CRISIL
CRISIL
Credit Rating and Information Services of India Ltd. a global analytical company providing ratings, research, and risk and policy advisory services....
announced its intention to purchase Irevna Research Services for an initial cash payment of about Rs 43 crores (Approx US$8.6 Million, based on then USD-INR exchange rate). The company has since been rechristened as Irevna, a division of Crisil. Subsequently in 2011, the global research support units of CRISIL have been rebranded as "CRISIL - Global Research and Analytics" (Irevna and Pipal serve as exclusive brands for external clients; and a Captive unit)
Irevna moved to Chennai in 2002 with about 20 people. At the start of 2010, the Chennai operations alone have grown over 25 times and accounts for around 40% of CRISIL's global offshoring operations.
Irevna claims to have pioneered the concept of "offshoring investment research" to the world's leading investment banks and financial institutions.
The company became ISO 27001 (BS 7799) certified in November 2006.
Recognition & Awards
The company has been consistently ranked the best outsourcer in its niche segment of high end financial research & analytics space.| Year | Rank | Category |
|---|---|---|
| 2009 | 1 | |Financial Services Provider |
| 2009 | 1 | |Corporate Finance Support & Advisory |
| 2009 | 1 | |Risk Management & Actuarial Services |
| 2009 | 1 | |Financial Services Analytics |
| 2008 | 2 | |Financial Services Industry Analytics |
| 2007 | 1 | |Financial Services Industry Analytics |
| 2006 | 1 | |Investment Research Outsourcing |
Sourced: Datamonitor-Black Book of Outsourcing http://www.datamonitor.com/store/Product/2009_the_black_book_of_outsourcing_state_of_the_outsourcing_industry_report?productid=20109D4A-5FE1-4E55-96EE-E6E9AE6C0F84
Competitors
Competition would include other third-party vendors as well as captive unitCaptive unit
A captive unit is a business unit of a company functioning offshore as an entity of its own while retaining the work and close operational tie ups within the parent company....
s of investment banks.
The main competitors in the third party vendors list would include
- Amba Research
- Aranca Inc
- Copal Partners
- Evalueserve
- Pipal Research - Acquired by CRISIL Ltd. in 2010