HCL Tech forms JV with m.a.partners

NEW DELHI: HCL Tech has entered into a joint venture with m.a.partners, a management consulting firm to address software services opportunities in global financial markets, especially in the areas of investment banking, asset management and private banking. m.a.partners brings domain expertise and clients including many of the top global investment banking firms, to the JV.

The new company, christened HCL m.a. Ltd will be headquartered in London. HCL m.a will leverage HCL Techs’ considerable resources in project execution and delivery and provide customers in the global financial market space, an end-to-end offering, ranging from solution design to software services delivery and maintenance.

HCL Tech will hold a 51% stake in the new company while the balance 49% will be owned by m.a.partners. The initial funding will be £800,000. The board of the company will be constituted of two directors from each shareholder, with one of the HCL Tech nominated directors, appointed chairman of the new company. HCL m.a will be managed by experienced consulting professionals familiar with the financial markets, primarily from m.a.partners.

The JV will enable HCL Tech to leverage its capabilities in software development and applications engineering to target m.a.partners’ client base, whilst enabling m.a.partners to provide end-to-end solutions. m.a.partners is an independent management consulting firm with a track record in managing change for leading institutions in the global financial markets. The firm has offices in London and New York and a team of 22 partners in a total of more than 80 experienced professionals, with backgrounds from Investment Banking and the "Big Four" consulting firms.

Shiv Nadar, Chairman, President & CEO, HCL Tech, commented, "As part of our strategy to strengthen the Banking and Financial Services vertical, this JV will facilitate HCL Technologies to craft an entry into the largest banks and financial services companies globally. HCL m.a also marks our enhanced focus on the European market, where we intend consolidating our presence."