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Genpact's CEO Discusses Q3 2011 Results - Earnings Call Transcript

We also expanded existing client relationships significantly this quarter, the number of client relationships representing between $5 million and $25 million in annual revenues increased from $37 million to $52 million in the third quarter with seven coming from Headstrong. And the number of plants representing $1 million to $5 million in revenues increased from $59 million to $112 million with 25 from Headstrong. This gives us a great runway for growth.

These results reflect the resilience and diversity of our business model. We continue to drive growth across industry verticals, service offerings and geographies. This was despite ongoing macroeconomic concerns particularly in the European Union financial markets, softness in U.S. consumer facing financial services and Japan.

In line with our strategic initiatives of moving our leadership closer to our clients two of our key vertical business leaders ahead of manufacturing and services and ahead of CPG, pharma, retail as well as our leader for new product innovation are in the process of relocating to the U.S.

With these changes and my own plan shift to New York, we will have a more balanced distribution of our leadership in close proximity to our key clients, which provides a much better opportunity to be in continuous and strategic dialogue with the C-suite and our client companies. This allows us to drive co-innovation, new idea generation, and thought leadership as well as faster response to client trends and needs.

We are able to do this because of our history of operating excellence and the depth of our delivery leadership. We are also pleased to announce that on October 4, we closed the acquisition of EmPower Research an Integrated media and business research company with strong capabilities in social media research, media monitoring and measurement. This acquisition will add significant domain expertise intellectual property on our high-caliber senior management team to Genpact’s Smart Decision Services. It is a fantastic fixed for our business in a new growing area with numerous cross-sell opportunities particularly in the pharmaceutical, CPG and retail and financial services industries.

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