The ISB, on May 19th, held a Research Presentation on ‘The Global Sourcing Model in Financial Services’ in the presence of a group of senior business leaders. The findings were made public for the first time today after a study among several CXO’s from the largest global banking and financial services companies to understand how they organize global sourcing.
Talking about the Research Presentation, Professor Rammohan Rao, Dean, ISB, said, “Our focus is very clearly on establishing a research culture at the ISB. We want the ISB to be the hub for management research in Asia, especially research of significance to emerging economies such as ‘global sourcing’. Research presentations such as these, contribute in a big way to our research efforts.”
Dr Phanish Puranam, Professor of Strategy at the ISB and at London Business School and Dr Suresh Gupta, Partner, Capco, are the co-directors of this research study. The research findings dispel many of the myths surrounding both outsourcing and offshoring in the financial services industry today. They also provide unique and practical insights into the experiences and evolving models of the sourcing leaders, insights that all financial institutions and not just the newcomers to global sourcing can learn from.
Presenting the Research findings Professor Phanish Puranam said, “I am very keen on collaborating with the ISB on doing a follow on study on this subject. The financial services sector is the largest and most sophisticated market for IT and IT enabled services (ITES). This research highlights current sourcing strategies, their rationale, and emerging trends among the world’s top financial services organizations.”
The Research Presentation was followed by a Panel Discussion on “Captives vs. Third Party: Global Sourcing Choices”, where senior business leaders like Nina Nagpal – ED & COO, Morgan Stanley, Rahul Singh – E-Serve International (Citigroup), Arindam Banerrji – CIO, Deutsche Bank, and Raman Roy – former CEO, Wipro Spectramind, participated. The panel discussion was attended by a group of senior and top management executives from the industry.