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Syntel Appoints Nitin Rakesh As President - Americas, Business Development And Nearshoring Center

Stocks in this article: SYNT

TROY, Mich., Aug. 31, 2012 (GLOBE NEWSWIRE) -- Syntel (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced the appointment of Nitin Rakesh to the position of President — Americas, Business Development and Nearshoring Center, effective September 3, 2012.

In this role, Mr. Rakesh will lead Syntel's North American sales and business development efforts. He will also be responsible for developing and implementing Syntel's nearshoring strategies.

Nitin joins Syntel from Motilal Oswal Asset Management Company Ltd., where he served as Managing Director and CEO and was responsible for setting up and growing the Company's Asset Management business.

He previously developed and led Syntel's Knowledge Process Outsourcing business from 2002 until 2008, playing a pivotal role in positioning KPO as one of the fastest growing and profitable businesses within Syntel.

"We are pleased to welcome Nitin back into the Syntel family," said Syntel CEO and President, Prashant Ranade. "Nitin embodies Syntel's philosophy of strong customer focus and has a proven track record of growing new lines of business."

"We are confident that he will build on his experience to drive continued financial and operational growth for Syntel."

About Syntel

Syntel (Nasdaq:SYNT) is a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2008 certified. As of June 30, 2012, Syntel employed more than 20,000 people worldwide. To learn more, visit us at:  www.syntelinc.com .

Safe Harbor Provision

This news release includes forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2011, the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 or from other factors not currently anticipated.

CONTACT: Syntel (North America/Europe):
         Jon Luebke
         (248) 619-3503
         jon_luebke@syntelinc.com
         
         Syntel (Asia/Pacific):
         Sikta Samantaray
         +91 9167512186
         sikta_samantaray@syntelinc.com

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