Wednesday, 30 July 2014
Last updated 11 hours ago
Dec 22 2005 | 10:06pm ET
Copal Partners, which provides research and analytics to financial institutions, including hedge funds, private equity firms and investment banks, has hired former Goldman Sachs research head Andrew Melnick to boost its offerings.
Rishi Khosla, co-founder and chief executive of Copal, said the addition of Melnick is part of the firm's expansion, which is a result of strong growth.
"We've been growing [revenue] around 10% month-on-month for the last 12-14 months, and we expect to at least double, if not more than slightly double, over the next twelve months," said Khosla. "At the moment there is a lot of momentum in the business and we are finding a lot of that coming from the hedge fund world."
Melnick has headed up the research divisions at both Merrill Lynch and Goldman Sachs, as well as been on Goldman's executive committee.
"He's a very strong addition to the firm, and I think that given that a lot of his clients both at Goldman and Merrill were in the hedge fund community, we just feel that this helps further position us and reinforce us as a preeminent provider of research analytics services within that industry," said Khosla.
Specifically, Khosla is seeing demand for his firm's services from credit and capital structure hedge funds, many of which are based in Greenwich and Stamford.
"We have a number of equity long/short guys as well, but we specifically see a demand for this type of service from the credit funds."
Copal has offices in New York, London and Delhi. "The fact that we are based in India means that we can add that much more cost efficiency to our delivery," said Khosla. "If you look at equity research, on the sell side, we have a couple of competitors. If you look at investment banking or you look at hedge funds, I would almost say that there is no one who adds the type of value proposition which we are offering."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…