Amba Research
Amba Research, is a leading Knowledge Process Outsourcing firm which provides investment research support services to over seventy clients worldwide, including investment banks, investment management firms, alternative asset managers, commercial banks and credit rating agencies. Amba Research provides analytical support across multiple asset classes, including global equities, fixed income/credit and quantitative research. Amba Research employs over 600 people globally and maintains offices in New York, London, Singapore, Bangalore, Colombo and San José.
History
Amba Research was founded in 2003 by four former senior research directors of sell-side investment banks. The company name is a combination of the first letter of each of the founders’ names. It opened its first facility October 2003 in Sri Lanka. Amba Research unveiled its second office in June 2004 in Singapore. In February 2005, Amba Research entered India and in June 2006, it launched operations in Costa Rica.
Founders
- Andrew Houston 1 (MBA, CFA). Ex-JPMorgan Chase/Jardine Fleming MD and head of Asia research, and Asia strategist with twelve years of Asia research experience. Led II-rated strategy and economics teams
- Mohan Alexander 2 (MS, MBA). Ex-Deutsche Bank deputy head of Asia Research and head of India research with twelve years of Asia research experience
- Brad West 3 (MBA). Ex-Deutsche Bank MD and head of global emerging markets and Asia equity research, and Asia micro strategist with ten years Asia research experience. Former CLSA research head
- Anand Aithal 4 (MA). Ex-Goldman Sachs MD, head of Goldman Sachs’ India research JV, and Asia strategist with eleven years of Asia and Europe research experience
Competencies
Equity research – Activities include financial modeling and valuation services and writing company and industry reports. Services range from building new forecast models based on consensus or proprietary estimates; and relative and absolute valuation and sensitivity analysis. In addition, Amba Research analysts often prepare draft sections of broker reports and provide a range of in-depth sector/industry studies for both buy- and sell-side clients.
Quantitative research Services – Activities include mathematical modeling, statistical analysis, and computer programming.
Credit Research Services - Amba Research analysts provide research reports using public information, especially on high-yield and unrated credits. Reports range from “quick-and-dirty” reports for ongoing monitoring (overnight notes and relative value calls, credit risk reviews, and grading systems) to more in-depth analyses (rating-agency style, new issue/coverage initiation). In addition, Amba Research provides support for identifying and evaluating potential relative-value trading strategies. Another area of expertise is in providing theme-piece/sector reviews.
Recovery/Valuation Estimates - Amba Research provides support in making recovery estimates in default and/or distressed-debt situations.
Accounting Diagnostics - Over 45% of Amba Research staff members are accountants, including CIMA and ACCA qualifications. Amba Research has a specialist team that provides research on areas such as quality of earnings, accounting diagnostics, the impact of changes in accounting polices on index constituents, data mining the notes to accounts for numerous companies’ revenue recognition policies, off-balance-sheet items, and pro forma merger accounting.
Awards and Recognition
- CIMA Employer of the year 2007
Offices
Colombo, Sri Lanka - Amba Research Lanka (Private) Limited
Bangalore, India - Amba Research (India) Private Limited
San José, Costa Rica - Amba Research Costa Rica S.A
Singapore - Amba Research Singapore (Pte) Ltd