MELBOURNE, Fla., June 11, 2012 /PRNewswire/ -- ISGN Corporation™ ("ISGN"), a leading provider of end-to-end technology solutions and services to the U.S. mortgage industry, has named Ritesh Idnani its new chief executive officer. Idnani succeeds Krishna Srinivasan, founder, CEO and vice chairman of ISGN, who will continue as a member of the board and will remain executive vice chairman of the company.
Idnani joins ISGN from Infosys BPO Limited, an Infosys Group company, where he served as chief operating officer and senior vice president. In six fiscal years, from 2005 to 2011, Idnani grew Infosys BPO's revenues from $40 million to approximately $500 million annually, with the highest operating margins in the global business process outsourcing (BPO) sector.
"Ritesh is a superb choice to lead ISGN to its next phase of growth and development," said Shyam Bhartia, chairman of the board at ISGN. "Along with his proven track record and immense experience, Ritesh brings on board tremendous strengths in growing multiple businesses organically as well as inorganically, which coupled with his global exposure and success with great companies will be a perfect complement to ISGN's all-star team and its mortgage industry expertise. On behalf of the board, I would like to thank Krishna for his vision, leadership and outstanding contribution that have built ISGN into an industry leader. We are happy that he will continue to serve as executive vice chairman."
"Over the last five years, ISGN has been built to be the service provider of choice for our customers," Srinivasan said. "ISGN will now need to enable its customers to adapt to the industry reconfiguration and garner additional market share. I am excited and confident that adding Ritesh will truly empower us to be the transformational partner of choice to our customers."
Idnani sees it as a propitious time to join ISGN. "I am very enthusiastic to join the ISGN leadership team and help scale the business to the next level," Idnani said. "The mortgage industry has been through significant changes with the regulatory environment, the reconfiguration of market participants, the need to maintain operational excellence and the ever-expanding role of technology. With its strong financial backing and an end-to-end capability across the entire mortgage value chain with significant technology assets and a strong services and analytics layer leveraging the Global Delivery Model, ISGN is the partner of choice to the lending community. ISGN is a business whose time has come."
ISGN is a leading provider of mortgage technology and services. A fast-growing company with more than 1,000 customers, including large global banks and a majority of the top 10 lenders in the country, ISGN's product line includes a complete range of solutions for lenders, brokers and servicers. ISGN is funded by the highly regarded venture firms New Enterprise Associates (NEA) and IndoUS Venture Partners (IUVP), and by CFCL Overseas Limited, an SPV of Chambal Fertilisers and Chemicals Limited, a KK Birla company. Based in Melbourne, Florida, ISGN now employs more than 1,500 people across six domestic centers and two international facilities. For more information, visit www.ISGN.com.
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SOURCE ISGN Corporation