Global risk consulting firm Protiviti will diversify into mergers & acquisitions (M&A) advisory space in the Indian market, Subrata Bagchi, Senior Managing Director at its Indian unit, has said.
“We will gradually develop a team in India for the M&A advisory space. In India, we have so far not offered it (M&A advisory). But around the world we have been doing lot of M&A work,” Bagchi told BusinessLine.
Value-added service Protiviti India, a risk advisory firm, has always been looking for new value added services to expand its offerings here, he said.
Operating in a new avatar, Protiviti India has since 2014 — after a new management assumed charge — recorded significant growth in both client base and employee headcount. From a level of 150 professionals, the employee strength has grown to over 400 now, Bagchi said.
The service offerings — which two years ago was restricted only to internal audit and technology — has been expanded to include fraud forensics, regulatory compliance, accounting advisory on IFRS and cyber security.
Protiviti — which had entered India in 2006 — is also looking to open three more new offices in India, taking the total number to eight, Bagchi said.
“We plan to open an office in Chennai by this year end. We may also open offices at Ahmedabad and Pune,” he said.
On the clients front too, there has been growth with Protiviti now counting 13 of the top 50 BSE companies as clients. This is an improvement over the situation two years ago when only three of the top 50 BSE companies were counted as clients.