Financial & Business Services News by GLG Council Members

Thomas ReillyChief Executive OfficerNext Horizon, China

Another “Captive BPO” Acquisition by Indian Outsourcer

November 20, 2009

Analysis of:WNS Expands Global Presence Into Latin America | money.cnn.com

This week, with very little fanfare, WNS Global Services (NYSE: WNS) announced the launch of a new delivery center in Costa Rica. The press release focused on the center in San Jose as WNS’s “entry into Latin America” - but behind the scenes WNS has pulled-off the coveted “hat-trick” in outsourcing terms. WNS has in fact successfully “spun-off” of client owned share service center (a "Captive SSC") using a classic model for growing a BPO business.

GAO Interchange Report: Reducing Rates will “Pose Challenges”

November 20, 2009

Analysis by: GLG Expert Contributor

Analysis of:Reducing Interchange Would ‘Pose Challenges,’ the GAO Says | www.digitaltransactions.net

The GAO’s study on interchange was thoughtful, balanced, and light on recommendations. The inconclusive nature of the report reduces the likelihood meaningful legislative action will impact interchange in 2010. However, the combination of DOJ investigations, merchant class action litigation, and continued legislative efforts will collectively put increased pressure on these parties to enact payment system reform. Likely outcome could be a major interchange rate reduction in 2011. 

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Financial Armageddon off the table; now what?

November 19, 2009

Analysis of:Goldman Sachs launches $500M small-business venture | www.njbiz.com

Since we all seem to agree that financial Armageddon is off the table, and multiple iterations of TRILLIONS of dollars of current US taxpayer capital & debt has flooded the economy, we all seem to also agree the future impact of this indebtedness is unknown.We also seem to agree that US small business can take us forward and create more opportunity and jobs.

Wrong questions posed!

November 19, 2009

Analysis by: GLG Expert Contributor

Analysis of:Goldman Sachs launches $500M small-business venture | www.njbiz.com

Wrong to assume banks enjoy cheap easy money, but right to assume they are maximising net interest income wherever they can!

ADP - Mid Market is the 2010 Target

November 19, 2009

Analysis by: GLG Expert Contributor

Analysis of:ADP Delivers Breakthrough Integrated Workforce Management Solution | www.ebizq.net

ADP is making a strong push into the mid market for 2010. ADP now delivers a single-source, integrated experience for mid-market companies including a robust HR, benefits administration, payroll and time and attendance solution. The solution, specifically designed for mid-sized businesses (50-999 employees), helps companies focus on what matters most to their organizations – their business, their employees and their bottom line.

Still Not Business As Usual

November 18, 2009

Analysis by: GLG Expert Contributor

Analysis of:Is the Recovery Real? | www.margolisadvisory.com

Investment managers are still not operating as if this recovery has legs. What can we expect going forward and what will change that behavior?

Will it be too Little too Late?

November 18, 2009

Analysis by: GLG Expert Contributor

Analysis of:Frankly Tough | www.portfolio.com

Why does retrospect always have the best vision and insight? Why do we wait until a problem occurs before we look for ways to keep it from happening again?

$300 Million for Revolution is Perplexing

November 18, 2009

Analysis by: GLG Expert Contributor

Analysis of:American Express Says It Will Buy Revolution Money | www.bloomberg.com

It was only 8 months ago that Ted Leonsis said that the post-money valuation of Revolution Money is less than $200 million (WSJ April 6, 2009). As I remember thinking that number was wildly inflated at the time I was truly shocked to read about $300 Million purchase price.

Network challenger uses handsets not cards, focuses on an underserved niche

November 16, 2009

Analysis by: GLG Expert Contributor

Analysis of:Bling Nation Secures $20 Million in Series B Funding | www.reuters.com

Bling Nation is launching a new retail electronic payment system – a daunting challenge in a well served and intensely competitive market where scale and network effects matter enormously. However its targeted and novel approach may give it a fighting chance. Bling Nation uses mobile phone handsets rather than mag stripe cards as a payment account key and is focusing on underserved small community banks and merchants.

Will the last Hedge Fund manager to leave London please turn out the lights

November 16, 2009

Analysis by: GLG Expert Contributor

Analysis of:BlueCrest to relocate 50 staff to Geneva | www.ft.com

There is growing evidence that London is losing its allure as the location of choice for alternatives investment managers. There is no one factor driving this, but a combination of an increased focus on the taxation of expatriates; higher taxation generally; perceived over-regulation of alternative investments; and intrusion into the remuneration structures of investment managers.

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