It is reported that Matthew Vallance has stepped down as the Managing Director and CEO of Firstsource Solutions Ltd. Firstsource, is one of the leading business process outsourcing firms with a network of 48 delivery centers spread across US, UK, Philippines, India and Sri Lanka. The company established in 2001 has over 30,000 employees and has reported revenues of about USD 448 Million during last financial year.
Matthew had been with the company for over 10 years and has been responsible for driving the company’s Banking and Financial Services, Telecom and Media businesses globally. Prior to this, he was responsible for establishing the company’s presence in the UK market. He joined Firstsource in 2002, through its acquisition of CustomerAsset, where he was part of the start-up management team in 2000. Prior to joining CustomerAsset, he founded an offshoring advisory business, before which he held various leadership positions in the area of technology marketing and communications, including two years as head of the Indian subsidiary of Text 100 Plc.
It is learnt that Rajesh Subramaniam, the present Deputy Managing Director and Chief Financial Officer, would take over the Managing Director & CEO’s role. Rajesh has an overall work experience of 17 years with organizations including ICICI Bank, KPMG, E&Y, Pioneer ITI AMC (now part of Franklin Templeton) and GIV Venture Partners, in leadership roles. Prior to joining the Company in 2011 as Dy. MD & CFO, he was the Managing Director of Walden India Advisors Private Limited, responsible for leading all investment initiatives and managing portfolio companies. He has also been the CFO of Firstsource from November 2002 to June 2008. During his tenure with the Company, he was instrumental in building the Company to its IPO. He was also responsible for Strategy, M&A and Corporate Development.
Source of Executive Profile & Picture – www.firstsource.com
Additional information about Firstsource on People & HR front:
Ranked amongst India’s Top 25 Employers by Aon Hewitt – Outlook Business Study 2011
Ranked amongst the Top 50 ‘India’s Best Companies to Work For’ in 2011 list by Great Place to Work Institute, India