Gravitas Planning Spate of Hires

Gravitas, a front and middle office outsourcing provider using cloud technology, is in the process of making a series of hires in conjunction with its new office space in Mumbai.

The New York-based vendor announced a week ago that it had moved to a new office in the Indian city after the integration of the IBM Algorithmics risk engine in support of Gravitas' risk-as-a-service capability.

The vendor currently has 70 employees in the city. But Jayesh Punater, CEO, said the company will be hiring between now and June with an eye to adding up to 30 additional staffers.

"We're adding research analysts, software developers and operations staff across different business lines all under the umbrella of co-sourcing," he said.

The strategy is to have staffers in Mumbai and the US across the different lines with similar skill sets to support a continuous service model. "Some members of the team will be located in the US, and some members will be in Mumbai," explained Sunil Wadhwa, managing director of India Operations.

Punater said with continuing growth of new risk and reporting requirements, some firms are moving toward risk-focused offerings, others want scale in research, there is increasing interest in cloud computing and “the market is more aware of Gravitas’ co-sourced services than ever before.”