Capco has established an IT services subsidiary in India under a three-year, $20 million agreement with Ness Global Services.
The Bangalore-based operation will offer Capco financial clients an offshore option for IT systems integration projects. Ness already provides services to financial services firms, including American Express, JP Morgan, Deutsche Bank, Chase, GE Capital, Bank Hapoalim, Bank Leumi and Czech National BankCompany.
Seperately, Capco has announced the completion of an advisory engagement to assist in the launch of Black River Asset Management, an alternative asset management company formed by Cargill's Global Capital Markets. Capco helped design and implement the operational support for Black River, including hedge fund operations, technology, and business control infrastructure, as well as assisting in the evaluation and selection of third party vendors for both technology and services.