Amba Research Appoints Anand Pande as Group CEO

15 July 2008

Amba Research, a firm that provides specialist analytical support services for the global capital markets and banking industry, today announced the appointment of Anand Pande as Group Chief Executive Officer. Pande, who previously headed Global Transaction Services, Citi Markets & Banking Indonesia, will have overall executive responsibility to lead and grow Amba's business worldwide. His expertise and track record of building businesses complements the skills of Amba Research's co-founders, who will remain focused on working with key customers as the market for Amba Research's services rapidly evolves.

Commenting on his immediate goals for the business, Pande said, "In these volatile times, our clients in the asset management and investment banking industries are looking for cost effective ways to maintain, support and even grow their analytical and research activities, in a manner that creates a robust platform for revenue growth and investment outperformance. I am confident that Amba Research's domain expertise and widely experienced management team leave it well positioned to meet these objectives. We will continue to work with our clients, offering innovative solutions to effectively meet their changing needs in this dynamic environment."

Andrew Houston, co-founder and Managing Director of Amba Research said, "Anand's experience and skills complement those of our existing management team. His experience in growing top-performing businesses will play an important role in helping cement Amba's leading position in the rapidly growing market for offshore analytical support. Anand's appointment will allow Amba's Founders to focus on using our extensive investment research experience to strengthen the service Amba provides to our banking and investing clients."

Anand Pande, Group CEO Amba Research, was previously Managing Director and Head of Global Transaction Services at Citi Markets & Banking Indonesia. Prior to this, he held several other senior roles outside India but across Asia at Citi. Between 1989 and 1998, he worked for ANZ Grindlays Bank and ICICI in India. Anand Pande has an MBA from the Faculty of Management Studies, University of Delhi and a B Tech (Hons) in Electrical Engineering from IT-BHU Varanasi, India.

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