Information Mosaic, solutions provider for the investment services industry plans to invest $10 million

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for setting up a development centre in India. The company plans to hire 250 design engineers for the new centre, which will service the Asia-Pacific market.

John Byrne, global CEO of Information Mosaic, said that the investment-banking sector is witnessing a transformation in terms of IT implementation.

“We are setting up the development centre in Gurgaon. Investment banking sector has not cut down on IT expenditure despite the global slowdown, which raises the potential for our business,” he said.

According to Byrne, the company’s expertise would help Indian banks and financial institution to move towards adopting international best practices and help play a pivotal role in the global scenario. He said that the industry is witnessing a growth of 40 to 50 per cent on CAGR. The key markets for the company is North America, Europe, Asia Pacific and Bric regions.