labels: exl_services, services, on the move, it news
Steven Gruber appointed as new chairman of EXL board news
Our Convergence Bureau
06 March 2003

New Delhi: As part of its restructuring effort initiated in November 2002, EXL Service, the Nasscom-certified No 1 business process outsourcing (BPO) services provider in India, has announced the appointment of Steven Gruber, a managing partner of Oak Hill Capital Management Inc, as the non-executive chairman of EXL Service.

Vikram Talwar will continue to serve as the vice-chairman and CEO along with Rohit Kapoor who will continue as the president and chief financial officer at EXL. Oak Hill Capital Partners has significant business interests in EXL, subsequent to its recent equity investment to acquire stakes from Conseco Inc along with FTVentures and the EXL management.

The other board members include James Hale (senior managing member, FTVentures), Ben Cukier (principal, FTVentures) and Brad Bernstein (partner, Oak Hill Capital Partners), along with Talwar and Kapoor.

Gruber is a managing partner of Oak Hill Capital Management, the investment advisor to Oak Hill Capital Partners LP, a $1.6-billion private equity fund formed in 1999. He was a co-founder and managing partner of Insurance Partners LP, a $540-million private equity fund dedicated to investments in the insurance industry, and a managing partner of the management company of Acadia Partners LP, which has a $1.6-billion leveraged high yield and private equity fund.

Gruber has led the Oak Hill and Keystone investments in Align Technologies Inc, American Skiing Company, Blackboard Inc, Caliber Collision Centers Inc, Exlservice Inc, Travel Centers of America Inc and Unionamerica Holdings plc, and played integral roles in numerous other investments.

Prior to joining Bass, Gruber was a managing director and co-head of High Yield Securities at Lehman Brothers and a managing director of its merchant banking group. He was also a member of Lehman Brothers' Investment Committee and Investment Banking Division Operating Committee.

Says Gruber: ''I am extremely pleased at this assignment. Today, India is being looked at as one of most the most-preferred outsourcing destination in the world. EXL is a leading India-enabled business process outsourcing provider with distinct process-improvement capability, and an exceptional management team.''

Adds Talwar: ''We are glad to welcome Steven on board and look forward to working together as partners in further building EXL as a dominant player in the international BPO space.

Exlservice (www.exlservice.com) is a US incorporated company offering a wide range of BPO services from its three operating centres in India. With over 1,700 employees and 1,500 agent seats, EXL is uniquely positioned to provide both transaction processing and customer contact services to corporations in the US and the UK. EXL was named the No 1 BPO service provider in India by Nasscom, in its 2002 survey.

Oak Hill Capital (www.ohvp.com) is $1.6-billion private equity partnership founded by Robert M Bass and his team of investment professionals. Oak Hill Capital makes significant investments through acquisitions, build-ups, recapitalisations, restructurings, strategic joint ventures and the purchase of minority stakes across a wide range of industries. OHCP is part of the Oak Hill platforms, a series of alternative asset management partnerships with more than $8 billion of capital under management.

FTVentures (www.ftventures.com) was the first venture capital firm in the US to focus on technologies that benefit the global financial services industry. FTVentures now has more than $623 million in total capital under management and is a leading investor in information technologies. FTVentures invests primarily in private companies with developed products and services in three key areas: software and infrastructure solutions, e-commerce solutions and payments technologies.

FTVentures' investors are 39 of the world's leading financial institutions and include AIG, Bank of America, BNP Paribas, Charles Schwab, Credit Suisse Group, Deutsche Bank, DBS Bank, GE Capital, HSBC Holdings, Key Principal Partners, National City, Skandinaviska Enskilda Banken (SEB), Standard Chartered Bank, US Bancorp and Wells Fargo.


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Steven Gruber appointed as new chairman of EXL board