Sutherland Research Overview.[[[[[[[[[[[[[[[[[[[[[[[[[[[[[[

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2010 Sutherland Global Services Inc., All rights reserved. Privileged and confidential information of Sutherland Global Services Inc. www.sutherlandglobal.com 1

Research Services


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Table of Content

Sutherland Global Services Overview

Sutherland Research Services

Trainee Analyst Program


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Corporate Snapshot

Business andClients

Background and

CorporateStructure

Leading provider of research & outsourced services for the Banking & Financial Services,Insurance, Technology, Telecommunications, Retail, Healthcare, Airline & Travel, and

Government markets

Services include:Business Transformation Services: Process Consulting, Business Solutions, Platform

Development, Global Transition

Knowledge Process Outsourcing: Business & Financial Research and AnalyticalServices

Back-office Management Services: Industry Specific Back-office Processing &Corporate Services (F&A, HRO, and Enterprise Help Desk)

Front Office Management Services: Technical Support, Customer Care & AccountManagement

80 marquee clients: 84% of Revenue from Fortune 1000, 63% from Fortune 500, 46% from

Fortune 50

Established in 1986 and headquartered in Rochester, NY Incorporated in New York, with 100% owned subsidiaries in India, Philippines, Canada,

Mexico, UK, Nicaragua, Egypt, UAE, and Bulgaria

Private Equity capital from Oak Investment Partners and Standard Chartered PrivateEquity

Privately held and minority owned


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Corporate Snapshot

Financial andOperating Metrics

Infrastructureand People

Rightsourcing, best location and talent, blended delivery processes 31 Delivery Centers in US, Canada, India, Philippines, Mexico, United Arab Emirates, and

Bulgaria ISO, PCI DSS, COPC and PCMM Certified; Six Sigma Disciplined Culturally meshed and operationally effective global team Over 29,000 professionals and growing

Growing at 25%+ annually Profitable and a strong balance sheet. Diversified revenue base. No single client contributes greater than 20% of total revenue


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Centers in CanadaSSM, ON

Windsor, ON

Centers in USRochester, NY

Syracuse, NY

VA Beach, VA

Houston, TX

+ Work @ Home

Center in MexicoMonterrey, NL

Centers in IndiaMumbai

Chennai

Cochin

Vizag

Sales and SupportOffice in UK

+ Work @ Home

Centers in Philippines

Makati (Manila)Pampanga (Clark)

Camarines Sur

Davao

Tarlac

Global Footprint

Center in BulgariaSofia, Sofia City

Center in NicaraguaManagua (planned)

RightSourcing aBlended Model - Over 29,000 Employees and GrowingAcross 31 Service Delivery Centers

Center in Egypt

Alexandria(under execution)

Center in UAEDubai

Center in China(planned)


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Sutherland Research

Services


7/25 2010 Sutherland Global Services Inc., All rights reserved. Privileged and confidential information of Sutherland Global Services Inc. www.sutherlandglobal.com 7

Equity ResearchInvestment Banking

M&A Analysis

Company Valuation

Knowledge Services

Pitch BooksFair Value Opinions

Company ProfilesComparables

Analysis

Target ScreeningIdea Generation

Due DiligenceDeal Execution

Initiating Coverage,

IPO Coverage

Sector PrimersSector Updates

Earnings ReviewsPreviews

Country and SectorYear Books

Financial ModelingValuation

Credit Research

Fundamental Credit

Analysis

Capital StructureCovenant Analysis

Term SheetRestructuring

Portfolio MonitoringRisk Assessment

Distressed AnalysisStructured Products

Business Research

Industry and

Company Analysis

Business DueDiligence

Market SizingEntry Strategy

CompetitionAnalysis

Market / PrimaryResearch

Macroeconomicresearch

Thematic Analysis

Country Reports

Policy InterpretationEvent analysis

Analysis ofEconomicIndicators

EconometricStudies

DatabaseMaintenancePeriodicals

Clients

Investment Banks, Brokerage Firms, PE/VC Firms, Hedge Funds, Mutual Funds, Consulting & Research Firms,

Commercial Banks, Insurance Companies, Regulatory Authorities and Corporates

Overview



Key Success Factors

Senior management collectively has 100+ years of investment banking,

equity research and consulting experience

Management plays an active role in execution of projects, thereby

ensuring adherence to highest quality standards

Senior management collectively has 100+ years of investment banking,

equity research and consulting experience

Management plays an active role in execution of projects, thereby

ensuring adherence to highest quality standards

Strong top management

Broad financial services footprint

Sutherland Researchs value offering today spans the entire financial

services spectrum, bringing together our proven research and

execution skills

Close to 50+ clients worldwide with varied requirements adds to the

breadth and depth of our financial services expertise

Sutherland Researchs value offering today spans the entire financial

services spectrum, bringing together our proven research andexecution skills

Close to 50+ clients worldwide with varied requirements adds to the

breadth and depth of our financial services expertise

Investment in people

5-week Induction program modeled on Wall Street training

methodologies for new recruits

Ongoing training, mentorship and regular on-project guidance by

seniors with Wall Street experience

5-week Induction program modeled on Wall Street training

methodologies for new recruits

Ongoing training, mentorship and regular on-project guidance byseniors with Wall Street experience

Strongstewardshipby topmanagement

Scalablebusiness model Investment in

people

ExpansiveFinancialServicesfootprint

Market

leadership

Scalable business modelAn organization's ability to learn,

and translate that learning into

action rapidly, is the ultimate

competitive advantage. Jack

Welch

Knowledge resides at all levels and across all groups in the

organization Knowledge resides at all levels and across all groups in the

organization

Sutherland Research is one of the

most preferred knowledge

outsourcing providers globally



Presence across the Research Value Chain

Historical

analysis

Data

aggregation

Forecastingnumbers,

Detailed industry

studies

Idea

generationfrom

insightful

analysis

Advisory role to

clients

Population of

financial models

with historical

data

Reconciliation of

numbers

Compilation of

sell-side views

Brief company

profiles

Preparing tradingand transaction

comps

Industry analysis,

landscape mapping

and detailed

industry overviews

Impact on company

financials from

changing macro

drivers, global

economic

parameters

Forecasting

financial statements

Standardizing

models across a

coverage universe

Funding gap

analysis from

forecasting cash

flows and otherstatements

Opinion-based

research - Form

independent views

based on analysis

Developing

detailed, complex

financial models

Developing pitch

books

Credit/ Equity

analysis to identify

undervalued /

undiscovered

stories

Spotting inflection

points and writing

thought-leading

research notes

Multiple valuation

methodologies to

substantiate

analysis

Arrive at price

targets/ synthetic

ratings

Generate

investment banking

and trading ideas

Converge technical

and fundamental

analysis to provide

investment insights

Online monitoring

of trading portfolio

to spot triggers for

trade

Statistical models

to support trading

decisions

Build and maintainportfolio risk

management

models

Independently drive

re-rating case for

coverage universe,

where appropriate

Sutherland

Involvement

Intricate,

complexfinancial

modeling



Middle Market Investment Bank

InvestmentBanking

Large Canadian Investment Bank

Bulge Bracket Investment Bank

$40 billion+ Hedge Fund

Long Short Equity Hedge Fund

Several Multi Billion Hedge Funds

Large European Asset Managers

Leading Investment Bank in the Middle East

Virtual Captive for a Bulge Bracket Investment Bank

Buys

ide

Sell Side US Equity Research Firm

Equity Research Department of Investment Banking Firm

We Work with the Best in the World

Sellside

Sutherland Research team

has consistently delivered

high quality, cost effective,

end-to-end research solutionsacross varying client types,

multiple sectors and diverse

geographies



Client Testimonials

I was in New York recently for the CFA Institute Annual Conference and had an opportunity to see some old colleagues who have nowscattered among various funds. At some point it came up that ABC is a client of Sutherland Research, and that you handle a lot of their

credit research. He said you do a great job and have made their firm significantly more productive

Charles C. Henneman CFA, Head of Conferences CFA Institute

Many thanks for all your work on this project --- very professional output produced under significant time pressure

Head of Research of a Leading European Hedge Fund

I have enjoyed our work together over the last couple years, and it has been a privilege to be part of such a wonderful global research team

in the truest sense of the term. As you know, I have always been a fan of your work ethic, your credit intuitions and your great

contribution

Portfolio Manager at a Leading European Investment Bank

This is great!!! This is exactly what I was looking for. Thanks a lot for your help and very detailed work.

MD of Capital Markets Division of Leading UK Bank

Just wanted to let you know that I have been going through the model all this morning and it looks very good. I have been going through

page by page and it looks really good!

Thank you for the great model! I was so impressed with your work. It was excellent work

Portfolio Manager at a Leading UK Bank


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Our Management Team

Niket Patankar, Head of Knowledge Services

Niket has several years of investment banking and entrepreneurial experience most significantly withCSFB, DLJ and Peregrine Capital. He has advised senior management at leading Fortune 500

companies in the US, Europe and Asia across multiple sectors. He concluded financing deals worth USD 7Billion and USD 12 Billion of M&A transactions.

Niket is an electronics engineer with a Management Graduate Degree from Jamnalal Bajaj Institute inMumbai, India.

Sangeetha Chhajed, Head of Research Delivery

With over twelve years' experience, Sangeetha has managed equity research, credit research and

investment banking analysts for numerous industry sectors. Previously she worked withARCIL in theirDistressed Debt Recovery and Restructuring group. Prior to that, she spent four years in businessvaluations, corporate restructuring and M&A advisory services with N.M. Raiji & Co, a leading Chartered

Accountancy firm in India.

Sangeetha is a Chartered Accountant and a Chartered Financial Analyst (ICFAI University India). Shehas also completed Part I of Management Accountancy Course of ICAI with distinction

Vikas has over 12 years of experience in Investment Banking, Credit Research, Structured ProductResearch. Prior to Sutherland, Vikas worked with GE Capital, India and Deloitte Haskin & Sells. At GEhe was responsible for tracking US Asset Backed Securities (ABS) and performing Corporate Research forUS Electric Utilities and Natural Gas. He received the GE Asset Management Award 2003 for developingand maintaining the Structured Product Surveillance System - a web based surveillance system to monitorSP securities portfolio of over $35 billion.

Vikas has an undergraduate degree from University of Delhi and is a Chartered Accountant (India). He isalso Six Sigma certified.

Vikas Verma, Head of Product and Strategy


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Sutherland Trainee

Analyst Program


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What is expected of you?

Expertise in accounting and finance

concepts

Proficiency in financial modeling and

valuation techniques

Good understanding of latest financial

market developments

Excellent communication skills

Critical thinking / reasoning skills

Ability to work under pressure and with

tight deadlines Curiosity to know and understand new

concepts, businesses, market events, etc

Learning the nuances of financial analysis and modeling,understanding businesses and industries, forming independent

investment opinions, writing research reports participating in

discussions with client analysts

Along the journey, an analyst prepares himself/ herself to

handling higher order responsibilities by way of acquiring key

insights into a relevant business domain or gains expertise in

tools/ techniques. Learns client handling and presentation

capabilities.

Trainee Analyst: Job description

Trainee Analyst: Learning curve

Execute diverse research and analytical assignments for top-tier global financial firms

Liaise with top-tier analysts and defend your investment arguments

Analyze economic, industry, and company data

Build and maintain detailed financial and valuation models after thorough evaluation of the company and its

business environment

Develop company/industry reports, and investment memos

Prepare presentations and pitches on companies, industries and on other research topics


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What is a typical analysts day?

Tracking markets and companies, writing reports, building financial models

Quick glance at macro-economic updates news

Tracking specific markets, sectors and corporate actions

Scanning through secondary research reports for assigned companies

Analyzing companies, their financials and business environment

Interaction with company management, industry experts, attending analyst meets

Writing reports, developing financials, preparing pitches

Interacting with Client Portfolio Managers and Research Analysts

Includes tracking markets and companies, writing reports, building models


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Who will you work with?

Best in class peer group

Sutherland Research employees come from top Business Schools in the country and are topranking Chartered Accountants or CFA charter holders

Mentoring by seniors with significant industry experience

Management talent attracted from leading firms

Investment Banks Research Firms Consulting Firms
http://www.ey.com/global/content.nsf/International/Homehttp://csfb.com/home/index/index.htmlhttp://www.crisil.com/


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Why become an Investment Analyst?

Opportunity to be a part of the highly dynamic and rewarding Global Financial Services Industry

Investment research is a high complexity, mind stimulating job requiring a blend of logical

thinking and strong analytical skills

The sheer market pace and the opportunity to contribute to live deals ensures a challenging

and dynamic work profile

Seeing ones investment ideas or picks being put into action by clients

The prestige of being associated with leading global banks, brokerage houses & hedge funds Strong potential for growth, based on performance.


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Attracting & Retaining theBest

Best-in-class training and continuing education policies

Wall-Street quality training program

Sponsorship of professional programs such as CFA, FRM etc

Challenging work opportunities

Challenging assignments, high profile clients and hard-to-get Wall Street exposure

Opportunity to work on site with Clients

Competitive compensation andrecognition

Highly competitive salary structure (fixed and bonus components)

Opportunities for rapid promotion for strong performers

Transparent and open culture

High levels of team spirit and bonding

Strong entrepreneurial culture that encourages new ideas, innovation and creativity

Why Sutherland Research?


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Rigorous 5-week training program modeled on Wall Street analyst programs

Orientation to Capital Markets

Fundamental Accounting

Rigorous accounting and financial modeling

Product Specific training

Equity Research

Investment Banking

Credit Research

Case Presentation

Mother of all Cases case study - Analysis of a

selected industry / sector with

recommendations for actionable investmentbanking ideas

Pro Forma Analyses

Comparable company analyses Detailed

scrubbing techniques

Credit/high yield comparables and M&Acomparable transactions

Technical Knowledge

US GAAP and SEC Regulations (including

updates on a regular basis)

Corporate finance, including valuation, capital

structure analysis

Financial Modeling

Product knowledge equity, debt, convertible

securities

Superior Induction Program

Training Modulea Topics Covereda

The induction program is designed to bridge the gap between theory and practice


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Continuing Education

Communication & Presentation Skills Credit and equity research report writing skills

Effective communication when discussing recommendations with clients

Other Continuing Education

Knowledge sharing sessions to enhance intra-team learning and discussions

Case studies to further hone analytical, problem solving and presentation skills

Leadership development program

Rotation opportunities (including travel to and operating from overseas client sites) as well as

across businesses within Sutherland

Allocation to critical pilot assignments to enhance learning and broaden exposure

On-going training to develop and sharpen professional skills

Sutherlands analysts go on to lead engagement teams, manage accounts, provide in-house training anddevelop into domain experts


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What We Offer

POSITION RESPONSIBILITYRELEVANTEXPERIENCE

VP Head of a Group / Business Merit based

AVP Head for multiple clients / delivery Merit based

Sr Manager For large client engagements 5-7 years

Manager Leader for client engagements 4-6 years

Sr Associate Team Leader for a small group 3-4 years

Associate Sr Team Member 2-3 years

Sr Analyst Team Member 1-2 years

Analyst Team Member MBA or CA with exp

Trainee Analyst Team Member MBA or

CA (campus)


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What We Offer

Fresh graduates start as Trainee Analyst

CATEGORY MBAs / CAs

COMPONENT ANNUAL (RS.)

Gross Compensation 5,00,000

Loyalty Bonus 1,00,000

Total Fixed CTC 6,00,000

Potential Variable Pay 1,80,000

Total Potential CTC 7,80,000

Home drop Transport Facility is available for employeesafter 10:00PM(Non Cash Benefit)


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But its also a lot of fun alongside some real hard work!

Off-site: Murud Janjira

Managers send-off presentation

Team

Lunc

h


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We believe..

Deep-dive and read in-between the lines

Analysis consists of using the information that everyone has seen andthinking what no body has thought

Strive to do the best and that entails adopting new approaches

One does not discover new lands without consenting to lose sight of theshore. We give you the freedom of innovating new approaches

You create your future

You create opportunities for yourself by exhibiting depth in analysis,structured thinking, good communication skills and above all a positiveattitude and commitment to deliver in face of any odds

If youve got what it takes, we want YOU on our team!!

Sutherland Research Overview.[[[[[[[[[[[[[[[[[[[[[[[[[[[[[[

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