Lazard may dump Evalueserve

Tags: BPO
Gurgaon-based KPO Evalueserve is likely to lose its anchor account Lazard, which is a US-based financial advisory and asset management firm. Lazard is planning to start its captive knowledge process outsourcing (KPO) in India.

The move to start KPO operations by Lazard in India is likely to hit revenues of Evalueserve. Lazard is among the top clients of Evalueserve and contributes a significant share to the company’s revenue. Lazard’s outsourcing work in India is being done by Evalueserve.

A Delhi-based investment banker told Financial Chronicle that Lazard is set to launch their captive KPO to carry out financial advisory and asset management. When contacted Lazard spokesperson declined to comment on the development. Spokesperson of Evalueserve declined to reveal about its clients. “We cannot comment on the revenues from our clients,” he said.

“Lazard is expanding its clients in India and has been planning to start its KPO which will help in cutting down the outsourcing expenditure of the company. With the financial crisis witnessed by companies globally, majority of companies are looking at cutting down expenditure,” the banker said.

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