e-Serve is now Citi Global Services

e-Serve International, a subsidiary of global financial major Citigroup, has changed its name to Citigroup Global Services (CGSL), with immediate effect. Separately, the company is also looking at setting up an international site in Delhi with an investment of around Rs 100 crore.

Announcing the name change, Rahul Singh, CEO & MD CGS, said: "The name change will reflect a closer association and synchronous identity with our parent organisation, Citigroup, and the pride of belonging to the world's largest financial financial services organisation further enhances CGSL's proposition as an employer of choice".

The new name leverages Citigroup's position as the world's largest financial services organistion and its pre-eminent position as a pioneer in Indian BPO space, he said.

The decision to change the name was approved at the e-Serve AGM held on September 26, 2006. The company has completed all requisite regulatory approvals and the new name is effective immediately.

e-Serve is the business processing arm of Citigroup and has been servicing the company's businesses in India since 1991 and globally since 1998. In 2004, the company was delisted from BSE and NSE, with Citigroup increasing its stake to 96.26%. The remaining stake is being held by retail investors. 

Tthe company was looking at setting up an international site in Delhi by the middle of next year. The site, to cater to its global operations, will have around 4,000 employees on becoming fully-operational, which would take around three years, Sanjay Nayar, India and area (India, Bangladesh, Nepal and Sri Lanka) head of Citigroup, said.

This would be third international site for the company, apart from the Chennai and Mumbai centres that have around 4,000 employees each.