ICICI OneSource Announces Appointment of Raju Bhatnagar as President and COO

Business Wire, Dec 10, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--Dec. 10, 2003

ICICI OneSource, one of India's largest third-party business process outsourcing (BPO) services companies, today announced the appointment of Mr. Raju Bhatnagar as President and Chief Operating Officer (COO) of ICICI OneSource, effective immediately. Mr. Bhatnagar was formerly with Cognizant Technologies as head of its BPO business. He brings to ICICI OneSource rich operational expertise in both the banking and BPO industries.

"ICICI OneSource has grown rapidly in the last one year and this has been possible because of the world class delivery capabilities ICICI OneSource has set up. Our aim is to constantly improve our levels of service to our customers and the appointment of Raju Bhatnagar is a step towards this direction," said Ananda Mukerji, Managing Director and Chief Executive Officer of ICICI OneSource. "His leadership abilities, combined with the breadth and depth of his operational experience, would be key for us as we aggressively expand our operations."

"ICICI OneSource has attained a leadership position amongst the BPO players in the country. With this move, I look forward to being a part of this team, leveraging my experience and continuing to work towards delivering best in class services," said Mr. Bhatnagar.

Prior to his career with Cognizant Technologies, Mr. Bhatnagar was with ANZ Grindlays Bank for 19 years in various capacities including Country Manager, Operations. He also headed operations for Times Bank, managed the integration of Times Bank and HDFC Bank after its acquisition and ran the Internet banking, branch operations and compliance for HDFC Bank. In June 2000 he joined eFunds as Vice President, Operations and later moved to a customer-focused and externally-oriented role as Vice President, Business Process Management. In this role he oversaw the worldwide BPO initiatives of the company. Subsequently, he moved to Cognizant Technologies as head of its BPO business.

About ICICI OneSource

ICICI OneSource (www.icicionesource.com) is a global business process outsourcing (BPO) company, focusing on servicing clients in the US and UK. ICICI OneSource is one of the largest third-party BPO services companies in India, with offshore facilities in Mumbai and Bangalore and international business development offices in New York and London. ICICI OneSource's clients include US- and UK-based Fortune 500 and FTSE 100 companies. ICICI OneSource's main services provided to clients include transaction processing targeted towards financial services and insurance industry and contact center services targeted towards clients across industries.