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    Business Wire India

    MetLife announces today the appointment of Bharat Kannan to the position of Chief Distribution Officer for Asia.


    In this newly created role, Kannan will lead all intermediated distribution channels in Asia. The creation of the role marks a significant step to embed customer centricity throughout our selling activities across Asia, delivering a consistently high quality experience.


    Kannan will continue to be based in Tokyo and will have Asia-wide responsibility for agency, bancassurance, employee benefits and global relationship management channels. He will partner with in-country distribution leaders to drive value growth through disciplined distribution management.


    “Our regional multi-channel distribution platform will advance its value for all our stakeholders as a result of this appointment,” commented Chris Townsend, President, MetLife Asia.


    Kannan joined MetLife in March 2015 as Head of Employee Benefits Asia, from Aon where he spent over 11 years, in a number of senior management positions in Asia and the US, and is a veteran of the US Air Force having served on active duty from 1992 -1996.


    Bharat holds a Bachelor of Business Administration from Temple University, Philadelphia, Pennsylvania, a Master of Science from DePaul University, Chicago, Illinois and attended INSEAD’s Management Acceleration Program.


    About MetLife


    MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit





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    Business Wire India

    BBPOS, the global company credited with inventing mobile point-of-sale (mPOS), is set to unveil its new WisePOS, an Android smartphone cum mPOS device in just a few weeks. Achieving flexibility and seamless integration into back-end systems, WisePOS demonstrates its uniqueness by combing a smartphone and mPOS features. It provides superior flexibility for merchants to use the Android platform to develop custom applications and services to reduce complexity and optimize their business.


    This Smart News Release features multimedia. View the full release here:

    WisePOS accepts NFC payment anytime anywhere (Photo: Business Wire)

    WisePOS accepts NFC payment anytime anywhere (Photo: Business Wire)

    This latest generation WisePOS, occupying a class by itself, is an all-in-one device, including full Android smartphone functionality – there is no need for installation, and no need for additional plug-in device to conduce mPOS transactions. It is easy to use with multiple connectivity options including WiFi, Bluetooth and GPRS.


    WisePOS’s list of sophisticated features includes:

    • Magstripe, EMV chip & pin , chip & sign and NFC contactless readers, all-in-one unit
    • Full Android smartphone functionality
    • 4-inch WVGA display
    • Secure PIN pad
    • Optional barcode scanner
    • SDK for Android development
    • Remote firmware update and encryption key injection

    “WisePOS provides mobile merchants and retailers a simpler, more reliable, more secure and optimally versatile mPOS device to accept payments anytime, anywhere, “said Ben Lo, Co-Founder & Chief Technology Officer of BBPOS. “ We are thrilled to bring this kind of revolutionary performance to customers, with demand at launch from an incredible roster of merchants who have managed payment acceptance and grown their businesses with help from BBPOS.”


    WisePOS is designed to appeal to a substantial segment of the mobile merchant and retailer sector, and the device will optimize many services, including direct sales and line-busting initiatives that offer customers added convenience. The all-in-one functionality is perfect for professions that demand a robust and versatile mobile payment, communication and data management solution, including insurance agents, logistic team, delivery workers, auditors, couriers and more. Additionally, the Android platform allows superior flexibility to develop customized applications and support the mPOS platform.


    WisePOS complies with PCI, EMV L1 and L2, and EMV Contactless requirements. EMV migration is still underway in the United States, with varying degrees of adoption among mobile merchants and retailers, and the emergence of Apple Pay, MasterCard PayPass and VISA payWave standards adds an additional level of complexity. By combining magstripe, EMV and NFC capability in a single device, WisePOS is able to meet customers’ expectation at all points along the transition and provide the most versatile mobile payment solution available.


    BBPOS is preferred worldwide by merchants, retailers and organizations for end-to-end mPOS devices and mobile payment acceptance innovations. BBPOS has earned a reputation for delivering solutions that leverage best-in-class technology with leading reliability and optimal convenience. WisePOS is ready to ship in Q3 2015 and a version with integrated printer will be available in 2016. The company will soon announce pricing and availability.


    About BBPOS


    BBPOS is a leading innovator, designer, manufacturer and provider of end-to-end mobile point-of-sale (mPOS) solutions to all sectors, including mobile merchant, retail, hospitality, delivery, transport and government. BBPOS has developed a family of innovative POS devices that deliver the highest standards of quality, security and certification, with the flexible connectivity required to securely manage any transaction, in any environment. BBPOS was founded in 2008. The company is headquartered in Hong Kong and maintains regional offices in San Jose, Miami, London, Singapore and Shanghai.



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    Business Wire India

    WEY Technology announces the launch of the “WEY Smart Touch” keyboard. The WEY Smart Touch significantly simplifies processes in all multi-screen workplaces where users need to switch between different systems. The intelligent keyboard boasts a broad range of surprising features.


    This Smart News Release features multimedia. View the full release here:

    WWEY Smart Touch Keyboard (Photo: WEY Technology AG)

    WWEY Smart Touch Keyboard (Photo: WEY Technology AG)

    The multifunctional keyboard, developed and produced by WEY and made in Switzerland, is groundbreaking technology. It revolutionises efficiency in high-performance workplaces, for instance, in control rooms and on trading floors. It has never been easier to switch any number of computers and other information sources onto multiple screens and videowalls. Central to the WEY Smart Touch is its 10” touch screen that automatically adapts its layout to the selected system. Telephony, messenger, two-way radio and videoconferencing, as well as external devices and other software applications, can be integrated seamlessly. Users can easily manage and control all their connected systems and switch between them.


    For WEY Technology, with its headquarters in Switzerland, the WEY Smart Touch is much more than a product enhancement. Rather, it represents a completely new, intuitive desktop management philosophy. WEY CEO Armin Klingler emphasises its significance: “The WEY Smart Touch sets new standards and dramatically simplifies day-to-day workflows in complex high-performance workplaces.”


    The WEY Smart Touch has been designed to be operated intuitively by a wide variety of employees. Programmable fields on the touch screen and interchangeable keypads can be customised to meet individual requirements. With its exchangeable snap-in key panel, the keyboard sets new standards for hygiene in 24-hour working environments. Movement and brightness sensors markedly enhance ergonomics and reduce energy consumption at the desk.


    The WEY Smart Touch is appropriate for applications in police and fire departments, emergency services, airports, railway and traffic control centres, trading floors, energy production facilities, industrial environments, multimedia reception areas and smart buildings, etc. The WEY Smart Touch is available in over 40 countries worldwide.


    More information:





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    Business Wire India

    The Industrial Internet Consortium®, the global public-private organization formed to accelerate enablement of the Industrial Internet of Things, has passed the 200-member mark 18 months after the Consortium was formed. It also announced the results of its 2015-2016 Steering Committee elections, elected by the Industrial Internet Consortium membership, as follows:

    • Jacques Durand, Director of Standards & Engineering, Fujitsu Limited
    • Dirk Slama, Director of Business Development, Bosch
    • Stan Schneider, CEO, Real-Time Innovations
    • Robert Martin, Senior Principal Engineer, The MITRE Corporation

    They join representatives from the five Industrial Internet Consortium founders (AT&T, Cisco, GE, IBM, and Intel) as well as Executive Director, Dr. Richard Soley.


    Since last year’s Steering Committee election, the Industrial Internet Consortium has grown from 68 to over 200 member organizations hailing from 26 countries. Its recent accomplishments are the public release of six testbeds and the Industrial Internet Reference Architecture and Vocabulary documents. To help serve the needs of its increasingly global membership, the Industrial Internet Consortium also announced the first Country Team in Germany with the organization of other Country Teams underway in China, India and Japan. The Country Teams are comprised of local Industrial Internet Consortium members and adhere to the same policies and procedures. These teams will focus on specialized uses cases and testbeds, plus localized marketing and the establishment of liaisons with national or regional standards bodies. The country team in Germany will be led by Industrial Internet Consortium member Steinbeis Transfer Center Innovationsforum Industrie (STCII).


    The newly elected Steering Committee members will officially take their seats at the Industrial Internet Consortium’s quarterly Members’ meeting in Barcelona, Spain on September 14th. Non-members interested in learning more about the Industrial Internet – including live demonstrations of testbeds - are encouraged to attend the co-located IoT Solutions World Congress event, September 16-18.


    About the Industrial Internet Consortium®


    The Industrial Internet Consortium® is an open membership organization with over 200 members from 26 countries, formed to accelerate the development, adoption, and wide-spread use of interconnected machines and devices, intelligent analytics, and people at work. Founded by AT&T, Cisco, General Electric, IBM, and Intel in March 2014, the Industrial Internet Consortium catalyzes and coordinates the priorities and enabling technologies of the Industrial Internet. The Industrial Internet Consortium is managed by the Object Management Group (OMG). Visit


    Note to editors: Industrial Internet Consortium is a registered trademark of OMG. For a listing of all OMG trademarks, visit All other trademarks are the property of their respective owners.





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    Business Wire India

    MetLife, Inc. (NYSE: MET) today announced that it won the Innovation Award for its Advanced Data Analytics (ADA) efforts in the Asia Insurance Technology Awards (AITA) 2015.


    Technology innovation is disrupting industries on a huge scale. For the insurance industry, this has resulted in the creation of new opportunities to differentiate and to better serve its customers. MetLife is committed to delivering a truly customer-centric experience through its digitalized business model and its powerful data analytic capability.


    “We are very proud that our innovations in technology and data analytics have been recognized at the Asia Insurance Technology Awards 2015,” said Mr. Chris Townsend, President of Asia, MetLife. “MetLife is dedicated to understanding our customers and their preferences. We believe that advanced data modelling and behavioral economics will help provide a holistic knowledge of what drives value for our customers.”


    With this commitment at the core of MetLife’s business, MetLife Asia established the Center of Excellence for Data Analytics (COEDA) in July 2014 staffed with data scientists. “We’re transforming big data into customer insights that enable us to deliver better, more personalized service,” said Ralph Brunner, Chief Marketing Officer, Asia, MetLife, who leads the ADA program. “This is driving double-digit increases in customer purchase behavior as we better identify and serve their true needs and wants."


    The Asia Insurance Technology Awards are jointly held by Celent, a research and consulting firm focused on the application of information technology in the global financial services industry, and the Asia Insurance Review. Established in 2010, the awards recognize excellence and innovation in the use of technology within the insurance industry in the Asia Pacific Region.


    About MetLife


    MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit



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    Business Wire IndiaDubai International Financial Centre (DIFC) concluded its week long engagement with leading business decision makers from India’s banks, insurers, law firms, asset and wealth management companies in the country’s commercial capital Mumbai.

    As a part of its recently announced 2024 growth strategy, DIFC aims to increase the number of Indian firms to over 100 in the next ten years in addition to expanding its physical and legislative infrastructure for financial institutions looking to fully realise their growth potential.  

    DIFC has seen exponential growth from only one Indian institution in 2007 to over 20 Indian banks and financial institutions at present. Indian institutions now make up the third largest community of financial firms at the Centre. Furthermore, more than a quarter of the current workforce employed in DIFC is of Indian origin.

    This strategic initiative came shortly after Indian Prime Minister Narendra Modi’s recent visit to the UAE to strengthen the relationship with the Gulf countries and seek investment to boost Indian economy.

    The visit presented opportunities both to enhance cooperation between the Indian financial community and the DIFC, and to promote the Centre’s world-class legal and regulatory framework to businesses looking to access the Middle East, Africa and South Asia (MEASA) region.  

    Senior DIFC delegation held over 40 meetings with high-level government authorities, private and public sector companies and current clients, in addition to partnering on three industry events hosted by professional services firm KPMG, the India Merchants’ Chamber (IMC) trade association, and leading Indian law firm Khaitan & Co.

    As part of their visit, the DIFC delegation conducted a series of presentations and discussions with leading industries and business professionals including KPMG staff, IMC members, delegates of GIFT (Gujrat International Finance Tech-City), banks, wealth management firms, insurance companies and law firms. In addition, the delegation met with the UAE Embassy in India to discuss key areas of mutual interest including trade and investments as well as collaboration on business and finance best practices.

    The meetings were an opportunity to offer insights on DIFC’s value proposition, 10-year growth strategy and reiterate its commitment to India’s expanding private sector and emerging market.

    Currently DIFC is home to 10 leading Indian banks and is in discussions with another 10 regarding future setup plans. In addition DIFC has received notable interest from Indian wealth and fund management organisations as well as key players in the insurance and reinsurance market.

    Speaking about the implementation of the 10-year growth strategy, Arif Amiri, Deputy Chief Executive Officer, DIFC Authority said: “On our second visit to Mumbai this year, DIFC has demonstrated its continued commitment to building and maintaining sustained, long-lasting partnerships with the emerging Indian market. With an ambitious 2024 growth strategy, we envisage a key role for Indian banks, insurers, law firms and wealth managers as we seek to expand our services and become a top global financial hub.”

    Amongst the current clients, the delegation conducted several productive meetings with leading financial institutions such as State Bank of India and ICICI bank to further strengthen existing relationships.

     “After the US and UK, Indian financial firms and banks have the largest presence at DIFC with more full banking licenses than banks from any other country. Indian firms seeking to expand their services and investments in the thriving MEASA economies continue to benefit from DIFC’s diverse and sophisticated infrastructure, enhanced legal and judicial framework and investment-friendly laws. Furthermore, Indian Institutions can take great confidence from the excellent relations between the Centre’s regulator which has MOU’s with more than 70 jurisdictions globally including the Reserve Bank of India and Securities and Exchange Board of India.” added Amiri

    Amiri further added:  “In the last ten years, the accumulation of surplus wealth in the East and the Middle East has been phenomenal, with most accumulated as sovereign wealth funds flows that are driving the economic development of these regions. The Middle East and North Africa (MENA) region is home to nine of the top 20 sovereign wealth funds in the world, with assets totaling approximately US$2 trillion.

    “Moreover, post the financial crisis we’ve seen a significant shift in the dominance of the West in terms of the financial markets and financial flows. With regards to our new clients, almost 80% of our incremental business is from Asia and the Middle East. Our Centre’s commitment is to allocate more resources to the needs of the emerging markets, such as India, as well as to integrate and connect their trade and investment networks to the South to South corridor and developed markets in the West.”

    In a recent announcement, the New India Assurance Company Ltd (NIA), a government of India-owned insurance company announced the opening of its regional hub in the DIFC, which will act as company’s administrative control headquarters across the GCC.  Earlier this year Bank of India, the third largest public sector bank from India opened its office in the DIFC.

    Indian firms stand to benefit from the UAE’s double tax treaty with India, which serves as an excellent incentive to invest in the DIFC. A recent illustration is that of is Gulf Petrochem, a multinational energy corporation, which in partnership with Gateway Investments, launched India’s first real estate fund under DIFC’s Exempt Fund.

    Accounting for 30% of the UAE population, non-resident Indians have set up more than 40,000 Indian companies in the UAE and have contributed to an estimated US$55 billion in Indian investments, with as much as US$18 billion of this total being invested in real estate across the country. The UAE’s investments in India currently stand at around US$8 billion. Trade and investment ties between India and the UAE will continue to grow following a pledge made by Prime Minister Modi and UAE government officials to increase bilateral trade by 60% over the next five years.

    As India becomes a critical financial market for Dubai, DIFC will continue to visit Indian partners throughout the year to strengthen existing relationships, while identifying and exploring new trade and investment opportunities.

    About Dubai International Financial Centre

    The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses.

    The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

    Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

    Currently, more than 1,225 active registered companies operate from the Centre, including 21 of the world’s top 25 banks, 11 of the world’s top 20 money managers, 7 of the top 10 insurance companies, and 9 of the top 10 law firms. The Centre supports a combined workforce of 18,000 people.

    DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3.0 billion and nominal GDP of US$7.9 trillion.

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    Business Wire IndiaWorld-renowned social entrepreneur, founder of Grameen Bank and pioneer of micro-credit, Prof Muhammad Yunus inaugurated the new corporate office of NBFC-MFI Grameen Koota in Jayanagar, Bangalore on Saturday, September 5, 2015.Professor Yunus often referred to as father of micro credit, developed the concept which has enriched millions of poor households around the world with micro credit support. He is widely credited for his work to end poverty through micro-lending and cause-driven businesses in his home country of Bangladesh and throughout the world. The 2006 Nobel Peace Prize was awarded jointly to Yunus and Grameen Bank, a bank Prof Yunus established in 1983 to provide micro-credit in Bangladesh and which is serving 8.5 million poor households today. 

    Founded as an NGO project in 1999 by Vinatha M. Reddy, Grameen Koota caters to the need of micro-credit to the rural poor and low-income households in five states today. Grameen Koota was modeled after taking inspiration from Nobel Laureate Prof. Muhammad Yunus and his Grameen Bank. It has grown largely after its transition into a non-banking financial corporation (NBFC) in 2007-08.

    After inaugurating the new corporate office of Grameen Koota, Prof Yunus inscribed on the wall his message: "Keep Changing the world." Later, addressing the employees and management of Grameen Koota, he said: "We have to create a worldwhere we have no poverty, zero poverty as we put poverty in the museum. We will create that. We have to come up with all the ideas to create that. We have a mission to accomplish and togetherwe can make it happen."

    In his message to all the microfinance professionals, he said, "Today you have a clear mission in front of you. Make sure you understand it. Within your outline work, you have a bigger mission and work towards achieving that. Make sure your work changes the world."

    Earlier, Mrs. Vinatha M Reddy, Chairperson of Grameen Koota, said, “Grameen Koota remains a top quality Microfinance Institution and it is known in the microfinance sector as a socially conscious  and client centric organization. Today on the occasion of our new corporate officeinauguration and in your august presence, we reaffirm Grameen Koota's commitment to remain a top quality MFI with high social-focus."

    Mr. Suresh K Krishna, Co-Promoter & Director of Grameen Koota, echoed similar views when he thanked Prof Yunus for being Grameen Koota's inspiration and guide. "We always look up to you and Grameen Koota continues to be serving what it stands for."

    Mr. Udaya Kumar, Managing Director and CEO of Grameen Koota, recalling that the auspicious occasion also coincided with Teachers' day in India, said: “Today is Teachers' Day and we have our teacher, philosopher, guide, architect and Father of microfinance with us. Team Grameen Koota bows to you with gratitude and re-assure you that we will continue our responsible lending principles and practices with social focus you always taught”

    About Grameen Koota Financial Services Pvt Ltd

    Bangalore-based NBFC –MFI, Grameen Koota Financial Services Pvt Ltd (Grameen Koota) with 286branches spread across Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and Chhattisgarh, reached one million customers with a portfolio of Rs.1,602 crore as of 30th June 2015.

    Grameen Koota is one of the 5 financial institutions in the world and one of the 3 microfinance institutions (MFI) in India to have been honored by Smart Campaign for having met all the client protection principles. It is also one of the few MFIs be awarded with Truelift Certification of ‘Achiever’s level’ and Social Rating of  Σα-(alpha- minus) for its commitment on social performance and pro-poor business. Grameen Koota is one among the few with a top grade of ‘mfR1’ by CRISIL for its Quality and high Credit rating of ‘A-‘ by ICRA among MFIs in India.

    Grameen Koota has been working with Joint Liability Groups formed exclusively of women belonging to poor and low income households by providing them with financial literacy and diverse credit products catering all life-cycle needs such as income generation and access to water, sanitation, education, health care, home repairs, emergency, energy efficient cook stove etc. It gives its clients the option to repay weekly, fortnightly or monthly, depending on their cash flow and convenience. Grameen Koota’s social awareness campaign ‘Jagruti’ has become an important source of information across its customers over period of time.

    More information:

    Photo CaptionNobel Laureate Muhammad Yunus opened the Grameen Koota new corporate office in Jayanagar, Bangalore on Saturday, Sept. 5, 2015.


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    Business Wire India 

    • Get used to getting more, maximize your card benefits with Maxit
    • Behind every spend; there is an offer of your choice, Unlock it with Maxit

    Aditya Birla Money MyUniverse, India’s No. 1 Personal Finance Platform announced the launch of its mobile app Maxit @ MyUniverse. This innovative app is now available free for download on Android and will be available very soon on the iOS.
    Maxit is an app that curates offers based on your location, spends & personal preferences, to give you the right offers at the right place, at exactly the right time.

    Some salient features of Maxit are:
    • Get notified about the best deals in your location and save every time you spend
    • Let Maxit choose the most relevant offers for you based on your spends
    • Enjoy Maxit delights: Exclusive offers designed for you, over and above your credit card offers
    • Let Maxit help you to choose the best card for every spend and maximize benefits for you
    With more than 300 credit cards and up to 800 offers on each card, there are offers everywhere, but no guide to show the right one, especially at the right place. Maxit was created to ensure that customers stop chasing offers and let their favorite offers follow them.  
    Sudhakar Ramasubramanian, CEO – Wealth & Online Business, Aditya Birla Financial Services Limited said, “At Aditya Birla Money MyUniverse, we are continuously innovating and investing in technology to build new propositions for simplifying money management for Indians. Spending is on rise especially with younger audience and cards & wallets are increasingly becoming preferred payment options. Maxit mobile app gives the convenience of getting Smart Savings on spends by helping customers get the most relevant offers based on the card, location, spend and preferences.We believe that Maxit will revolutionalize the spending habits of Indians and eventually help them improve their personal finances.”
    Speaking about the Maxit launch, Mr. Rahul Parikh, Head – Aditya Birla Money MyUniverse said, “This is one more step in our journey to empower Indians for making better financial decisions. Maxit mobile app gives the power of choosing the right offers & cards for spending; thus helping customers maximize their savings. A recent report for FY 2014-15 by Worldline, an electronic payment services company claims that consumers spent Rs.1.9 trillion through credit cards and Rs.1.2 trillion through debit cards in India. Maxit gives customers the opportunity to get Smart Savings with every swipe."

    For more details check out-
    About Aditya Birla Money MyUniverse
    Aditya Birla Money MyUniverse is an online money management platform offered under the brand Aditya Birla Money (ABM).
    MyUniverse gives a single window view into a customer’s financial world. A customer can browse and pay bills, track expenses, loans, invest in mutual funds, FDs, and more. MyUniverse enables one to understand his/her financial health and empowers to make better decisions so that he/she can plan for a better tomorrow.
    The services of Aditya Birla Money MyUniverse are offered by Aditya Birla Customer Services Limited via its online platform and the MyUniverse Android and iOS mobile apps.
    About Aditya Birla Money
    Aditya Birla Money is a single brand offering the combined products and services of Aditya Birla Money Limited, Aditya Birla Money Mart Limited & Aditya Birla Customer Services Limited.
    Aditya Birla Money Limited is a broking and distribution player, offering Equity and Derivative trading through NSE and BSE and Currency Derivative on MCX-SX. It is registered as a Depository Participant with both NSDL and CDSL and also provides commodity trading on MCX and NCDEX through its subsidiary company.
    Aditya Birla Money Mart Limited is a wealth management and distribution player, offering third party products like company deposits, mutual funds, insurance, structured products, alternate investments, property services and has a premier wealth management service arm to cater to HNI customers.
    The services of MyUniverse are provided through Aditya Birla Customer Services Limited.
    These offerings are delivered through a strong pan India distribution network of about 1000 self - owned and franchisee branches, a robust online and offline model with a strong technology backbone to a large customer base, in excess of 4 lakhs. 
    About Aditya Birla Financial Services Group
    Aditya Birla Financial Services Group (ABFSG) ranks among the top 5 fund managers in India (excluding LIC) with an AUM of USD 20.4 billion. Having a strong presence across the life insurance, asset management, NBFC, private equity, retail broking, distribution & wealth management, and general insurance broking businesses, ABFSG is committed to serve the end-to-end financial services needs of its retail and corporate customers.
    The seven companies representing ABFSG are: Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. In FY 2013-14, ABFSG reported consolidated revenue from these businesses at Rs. 6,640 Crore (USD 1.1 billion) and earnings before tax at Rs. 745 Crore. Anchored by about 13,000 employees and trusted by over 5.5 million customers, ABFSG has a nationwide reach through 1,500 points of presence and about 130,000 agents / channel partners
    For further information, please visit our website 

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    Business Wire India

    Elenilto, controlled by the Israeli billionaire Jacob Engel, has been recently awarded by the government of Togo, West Africa, in an international tender, to develop the phosphate mining and fertilizers plant project in Togo. Elenilto, which leads and controls the consortium, is cooperating in this project with Wengfu as its strategic partner. Wengfu is one of the top leading international phosphate and fertilizers groups with vast experience in the phosphate chemical industry in China and greatly favorable influence in the industry globally.


    Currently a number of global financial institutions are interested in financing the project. Discussions in purpose to assemble the financial consortium to support and provide the required financing to develop the project have already begun.


    Elenilto shall establish one of the largest phosphate mining and beneficiation facilities to produce low cost phosphate concentrates utilizing the connection to the natural gas pipeline of WAGP, the short distance from the mine to port which is less than 30km, and a high production rate of 5 million tons per year, to benefit the economies of scale and to maintain cost advantage in the international phosphate and fertilizer market.


    Elenilto shall establish a downstream phosphoric acid and fertilizer plant to supply the required nutrients to the agricultures as the future suppliers of food, to the developing and increasing African and International fertilizers customers. Elenilto shall also invest in distribution channels and required logistic facilities to bring the fertilizers to the farmers.


    The project is located near Lome, Togo’s capital, and is probably the largest phosphate deposit south of the Sahara, with estimated resources exceeding 2 billion tons of phosphate and shall generate sales of over 28 billion US dollars. Thousands of local and foreign employees will be recruited to develop the project and tens of thousands of indirect jobs will be created.


    Alon Avadani, CEO of ELENILTO: “Elenilto has identified the local market shortage and demand for fertilizers products, and shall supply the phosphate, the fertilizers and the phosphoric acid to Africa and the international market. The fertilizers project is the first and the biggest of its kind in West Africa and shall enjoy relative low operating expenses due to the availability of gas from the WAGP, the close proximity to the port and the size of project.”


    The phosphate rock concentrates export of 3 million tons per year, the 500,000 tons per year of phosphoric acid production and 1.3 million tons per year of fertilizer products, shall allow an export of both phosphoric acid and fertilizers to Africa and the international market.


    The execution of the final concession development agreement is expected to be during this month, and the sales of concentrates production is expected to begin within 3 years.


    Elenilto is involved in minerals, mining and oil & gas projects in a few countries, mainly in Africa, in the scope of billions of dollars.



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    Business Wire IndiaWipro Limited (NYSE:WIT), a leading global information technology, consulting and business process services company, today announced a partnership with BlackLine Inc., a leader in Enhanced Finance Controls and Automation (EFCA) software. As part of this partnership, Wipro will offer BlackLine's platform of financial software solutions, encompassing Financial Close Management, Intercompany Hub, Reconciliation Management and Controls Assurance delivered as a cloud-based service, to finance and accounting organisations.
    The BlackLine Finance Controls & Automation Platform will assist organisations to remain competitive, reduce risk and transform their existing finance and accounting departments into ‘Modern Finance’ organisations, by automating key processes and reducing manual efforts. These solutions will not only bring efficiency and cost reduction to the finance function of the organisations, but will also help the CFOs to achieve sustained benefits through risk reduction and automation of enforced controls. Complete audit trail, automated task management, automatic matching and automatic certification functions will also improve compliance to internal controls and policies, including SOX compliance.
    Wipro and BlackLine will partner in projects and initiatives with the ultimate goal of delivering value to its clients and supporting them globally.This will open the doors for the next generation of finance delivery models for Shared Service Centers or retained organisations.
    “The BlackLine organisation is energized by the synergy and potential of this global partnership with Wipro,” said Mario Spanicciati, BlackLine’s Chief Strategy Officer. “Wipro is a global leader in helping companies leverage innovative and proven technology to gain competitive advantage. The combination of Wipro’s practical consulting expertise and global reach with BlackLine’s leading solutions for automated finance controls and automation will help drive a tremendous market opportunity for both companies.”
    The BlackLine suite of finance controls and automation products provides a clear platform for our client organizations to support and lead the business improvement and process simplification objectives for their finance and accounting operations,” said Tomas Romero, Global Finance & Accounting Transformation Practice Leader, Consulting Services, Wipro Ltd. “We believe that this partnership will help drive change and standardisation across people, processes, data, technology tools and the quality of financial reporting for our clients." 
    "Wipro and BlackLine partnership presents a unique synergy that will allow clients to leverage the strengths of BlackLine’s technology coupled with Wipro's experience and capability in Consulting & Business Process Services to truly transform the finance function of their organizations," said Venkataraman Mahadevan, Global Business Head, Corporate Business Services, Wipro Business Process Services, Wipro Ltd.
    Wipro Consulting Services (WCS) is a key differentiator for Wipro Limited. WCS consults and leads organisational and business process transformation to improve performance, increase effectiveness, reduce costs and improve resilience. It introduces leading-edge practices and offers business advisory, business and functional transformation, IT consulting, risk and compliance services to many of the world’s leading organisations, governments and institutions.
    About BlackLine

    BlackLine is a leading provider of Enhanced Finance Controls and Automation (EFCA) software and the only one that offers a unified cloud platform supporting the entire close-to-disclose process. The BlackLine Finance Controls and Automation Platform is designed to help midsize companies and large enterprises strengthen controls, lower compliance risks and gain greater efficiencies and visibility.  Delivered through a scalable and highly secure cloud model and built from a single code base, the platform supports many key accounting and financial processes including the financial close, account reconciliations, intercompany accounting and controls assurance, fueling confidence throughout the entire accounting cycle.

    More than 110,000 users across 1,100 companies in over 100 countries currently leverage BlackLine to increase accountant productivity and elevate controls and compliance functions to ‘Modern Finance’ status, with customers comprising more than 25 of the Fortune 100 and over 100 of the Fortune 500. 

    BlackLine complements existing enterprise systems for Corporate Performance Management, Governance Risk and Compliance and Enterprise Resource Planning. The BlackLine Financial Close Suite for SAP® Solutions is an SAP-endorsed business solution, joining the ranks of fewer than 40 other software offerings.  BlackLine also is an SAP Gold Partner, Oracle Gold Partner, and participates in the partner programs of NetSuite and several other ERP providers.

    BlackLine global headquarters are in Los Angeles, with offices in Atlanta, Chicago, London, Melbourne, New York City, Paris, Sydney and Vancouver. For more information, please visit
    About Wipro Ltd.

    Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" - helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of over 150,000, serving clients in 175+ cities across 6 continents. For more information, please visit
    Forward-looking and Cautionary Statements

    Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

    Media Contacts:
    Beth Robertson
    +44 (0)20 31764700
    Prathibha Das

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    Business Wire India

    Intercontinental Exchange (NYSE:ICE), the leading global network of exchanges and clearing houses, today announced that ICE Futures Singapore and ICE Clear Singapore expects to launch on November 17, 2015, with five new contracts.


    Subject to final approval by the Monetary Authority of Singapore (MAS), ICE’s Singapore exchange and clearing house expects to trade and clear the first tranche of contracts below:


    These contracts reflect customer demand and complement ICE’s existing portfolio of financial and commodity benchmark contracts. ICE’s regional portfolio of energy, gold and FX contracts offer a range of hedging tools based on the diverse needs of market participants.


    “ICE Futures Singapore will offer a range of global and regional products designed to meet the needs of market participants for efficient trading and clearing services in their local jurisdiction,” said Lucas Schmeddes, President & COO, ICE Futures Singapore and ICE Clear Singapore. “We are pleased to announce the November launch and would like to thank our clearing members and customers for their ongoing support and interest.”


    In addition, ICE Trade Vault, LLC has submitted a foreign trade repository application to MAS, which will further support market participants’ compliance with regulatory reform in the region.


    The establishment of ICE Futures Singapore and ICE Clear Singapore support an expanded customer base and the further development of derivatives markets in Asia. ICE has had a presence in Singapore since 2000 serving customers in the global energy markets. In recent years, Asia-based trading activity in ICE's benchmark commodity and interest rate products has been rising as the region assumes a greater role in global derivatives markets.


    About Intercontinental Exchange


    Intercontinental Exchange (NYSE:ICE) operates the leading network of regulated exchanges and clearing houses. ICE’s futures exchanges and clearing houses serve global commodity and financial markets, providing risk management and capital efficiency. The New York Stock Exchange is the world leader in capital raising and equities trading.


    Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at


    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the SEC on February 5, 2015.


    SOURCE: Intercontinental Exchange







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    Business Wire India

    The Western Union Company and the Western Union Foundation pledged a minimum of one million dollars USD for swift and effective support for families and communities most affected by the refugee crisis in Europe. The company is mobilizing a multi-faceted response leveraging its global network of employees and Go-to-Market business leads, Western Union Retail Agents and customers, Western Union Business Solutions clients as well as company vendors.


    This Smart News Release features multimedia. View the full release here:


    The Western Union Foundation will support a range of disaster response organizations, including Global NGO Partners and local response organizations. Grants totaling USD$200,000 have already been committed to be distributed among Save the Children, the Red Cross National Societies in Europe, Mercy Corps and Caritas.


    As a part of the pledge, the Western Union Company will contribute ten US cents per transaction for all consumer-to-consumer transactions originated within the European Union, up to a maximum of USD$400,000. This initiative will commence on 14 September and funds will be committed for immediate local field actions, supplemented with Western Union employee grassroots activities at major refugee service centers across Europe.


    A Western Union Foundation employee, Agent and vendor appeal match program has also been activated. The Western Union Foundation will offer a 2:1 employee match program and a 1:1 match program for Western Union Retail Agents, Western Union Business Solutions clients and Western Union vendors.


    Western Union President and CEO Hikmet Ersek, said, “We are watching this unfolding crisis with heavy hearts. Our company is guided by a purpose of 'moving money for better' and this drives every decision we make and market we enter. Living our purpose also means giving on matters that are extremely critical to the communities we serve.


    “We are mobilizing a whole-of-company approach, engaging our customers, our employees, business associates and our Foundation to pledge a minimum of one million dollars USD towards supporting the effort led by the European Union and the global community towards this unfolding humanitarian crisis.


    “Our thoughts are with the men, women and children impacted as a result of this crisis. Supporting what matters in our communities, whether global or local, is the responsible thing to do," he said.


    “Western Union’s core customer base is predominantly comprised of migrants, who have moved from their home to their host country for a variety of reasons, be they economic, financial, family-reason or security. History has shown that, over time, migrants make extraordinary contributions to both their host communities, and also to their home communities in the form of remittances sent back to family and friends."


    Western Union Foundation President Patrick Gaston, said, “It is heartening to see international and national humanity collaborate in support of this crisis. Our giving is about helping people who need it most, in collaboration with our NGO relationships on the ground.


    “With our immediate financial commitment, our NGO Partners are responding with support for relief efforts, including meals, shelter, healthcare and other necessities to the families and children most affected in coastal and arrival areas, migratory and transit areas, and settlement areas," he said.


    Western Union Foundation– specific actions by NGO Partners

    • Save the Children to provide emergency supplies, including water, shelter, food, blankets, and hygiene kits at formal and informal refugee camps and to ensure safe environments for children. Their focus will be in the coastal arriving areas of Greece, Italy, Lebanon and Egypt; the migratory and transit areas of Serbia; and the settlement area of Germany.
    • Red Cross National Societies in Europe to distribute basic relief supplies, hygiene kits, blankets, clothing, food and infant kits. The Red Cross is also helping reconnect separated families and providing psychosocial support to those traumatized by the journey. Their focus will be in the coastal arriving areas of Greece and all arrival countries including the migratory and transit areas of Serbia, Macedonia and Hungary
    • Caritas Austria and Caritas Germany to provide emergency assistance including hygiene kits, food, care and games for children and provision of interpreters to help with communication. They currently have basic shelter spaces for 5,000 refugees, including 260 unaccompanied children, and are caring for another 11,900 with their mobile units. Their focus will be the migratory and transit areas of Hungary and Austria and settlement areas of Germany and Austria.
    • Mercy Corps to provide food assistance and distribute essentials like clothing, blankets, mattresses and infant care supplies to refugee families who have lost everything. In addition, Mercy Corps is putting plans in place to improve humanitarian conditions along the major access routes and entry points to Europe. Their focus will be the migratory and transit areas of Jordan, Iraq, Lebanon, Turkey, Serbia, Macedonia, Hungary and Syria, and coastal and arrival areas of Greece.

    About Western Union


    The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to millions of bank accounts. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit


    About The Western Union Foundation


    The Western Union Foundation is dedicated to creating a better world, where the ability to realize dreams through economic opportunity is not just a privilege for the few but a right for all. Through its signature program, Education for Better, and with the support of The Western Union Company, its employees, Agents, and business partners, The Western Union Foundation works to realize this vision by supporting education and disaster relief efforts as pathways toward a better future. Our combined social ventures efforts make life better for individuals, families and communities around the world. Since its inception, The Western Union Foundation has paid more than $103 million in grants and other giving. These funds have been pledged to more than 2,760 nongovernmental organizations in more than 136 countries and territories. The Western Union Foundation, is a separate §501(c)(3) recognized United States charity. To learn more, visit, or Follow us on Twitter @TheWUFoundation.







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    Business Wire India

    Oberthur Technologies (OT), a world leader in digital security solutions for the mobility space today announces its partnership with SoftBank Corp for M2M, IoT and connected devices in Japan where Mobile Network Operators (MNO) are leading the way on these fast growing markets. OT’s longstanding experience with both MNOs and Original Equipment Manufacturers (OEM) is a key asset for SoftBank which will benefit from the state-of-the-art solutions offered by OT to secure and enhance connectivity.


    SoftBank is not only a leading MNO in Japan, but also a recognized global connectivity player that serves its users through multiple approaches, targeting vertical markets that can potentially integrate M2M platforms and other specific devices and machines.


    OT is a major player in securing the M2M/IoT and connected devices space thanks to its innovative solutions and existing partnerships worldwide. OT will bring SoftBank its experience and expertise on M2M through its DIM®1 portfolio (SIM cards for M2M) adapted to all types of connected devices in terms of features and quality. Furthermore, OT will enable SoftBank to build projects with OEMs in partnership with OT for vertical markets such as the automotive industry, industrial devices, robotics, Smart metering, vending machines, gaming, etc.


    “We are delighted to be the first company selected by SoftBank as their strategic partner on M2M and IoT in Japan where this growing market is particularly dynamic and innovative,” said Pierre Barrial, Managing Director of OT’s Mobile Network Operators business. “Our unique DIM® offer and strong experience with MNOs and OEMs will allow us, with SoftBank, to build connected device solutions meeting the highest standards of privacy and security to serve expanding M2M needs.”




    SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO: 9984), provides mobile communication, fixed-line communication and Internet connection services to customers in Japan. Leveraging synergies with other companies in the SoftBank Group, SoftBank Corp. aims to transform lifestyles through ICT and expand into other business areas including IoT, robotics and energy. To learn more, please visit




    OT is a world leader in digital security solutions for the mobility space. OT has always been at the heart of mobility, from the first smart cards to the latest contactless payment technologies which equip millions of smartphones. Present in the Payment, Telecommunications and Identity markets, OT offers end-to-end solutions in the Smart Transactions, Mobile Financial Services, Machine-to-Machine, Digital Identity and Transport & Access Control fields. OT employs over 6 000 employees worldwide, including close to 700 R&D people. With more than 50 sales offices across 5 continents and 1 manufacturing hub by region, OT’s international network serves clients in 140 countries. For more information:


    1 Device Identity Module® is a registered trademark of Oberthur Technologies. DIM® is a dedicated range of embedded and removable M2M SIM cards.


    Download The M World,
    All you need to know about the latest trends of  the Mobility world, available on AppStore and Google Play







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    Business Wire IndiaUnlock the Power of Your Credit Score, a book co-authored by seasoned retail bankers – Arun Ramamurthy, Gaurav Wadhwani and Aman Kapoor to simplify the various facets of Credit and Credit Scores to help laymen was released by Mr. Manish Sinha, CEO, Equifax India in a stimulating event held at Oxford Bookstore in Mumbai. The launch was preceded by an extremely informative discussion on credit scores and need for proper management amongst the authors and assembled guests. The self-published book will be available on online platforms like Flipkart, Amazon and Infibeam as well as prominent book stores on orders.

    Living up to their individual social responsibilities, the authors have announced that the net proceeds from sale of the book will be donated for the cause of improving credit literacy in areas most affected by instances of farmer suicides, many of the farmers take the extreme step because they can’t manage credit due to lesser earnings from crop failure. The initiative called #Bookahelpinghand will be used in future to further support such farmers and their families.

    The book has neatly segregated credit related issues into three segments for explaining to readers starting with Building Blocks of Credit going on to Credit Scores and Their Importance and then sharing important Tips for Being Credit Healthy. Three annexures have been added to make it even more comprehensive with information on How to Read a Credit Bureau Report, Sample Budgeting Sheet, Credit Information Companies (Regulation) Act, 2005.  

    Elaborating on the reason for writing this book, Mr. Arun Ramamurthy, Co-author of Unlock the Power of Your Credit Score and Co-Founder, Credit Sudhaar said, “Credit is an integral part of every adult Indian’s financial life. Access to credit is increasingly a function of our past actions, which are evaluated, in statistical terms such as credit scores. More than 20 crore people in India have a credit score. However, only a miniscule percentage knows its true importance. We are hoping to spread awareness on this amongst Indian’s through the book.”  

    Expressing his happiness on the launch of a book on credit scores, Mr. Manish Sinha, CEO, Equifax India said, “Equifax is a $2.4 billion global information solutions company with a heritage dating back 116 years.  We solve our customers’ business challenges through a powerful combination of data, analytics and technology.  Credit reports and scores are one of the premier solutions we provide and often the best recognized.  It is super-important to understand how credit scoring works, whether you are a bank, an insurance company, a telecom operator… or an individual interacting with any of these institutions!.”

    Mr. Gaurav Wadhwani, Co-author of Unlock the Power of Your Credit Score and Co-Founder, Credit Sudhaar added, “We are sure that this book will help people to “discover” the “Credit Score” and guide them on how they can harness its true potential.”

    Mr. Aman Kapoor, Co-author, Unlock the Power of Your Credit Score opined, “It is important for all Indian’s and especially youngsters to know the perils of wrong use of credit and negative credit behavior. The Karmic action of negative credit behavior haunts them at the time when they require it most like maybe when applying for a home loan.”

    The book has been priced at Rs. 249.

    Arun Ramamurthy

    Arun Ramamurthy is a management graduate from IIM Calcutta and holds a bachelor’s degree in Economics from Presidency College, Calcutta.
    Arun has had a long and distinguished career in Indian retail banking with various multinational banks. Arun has been at the forefront of the retail lending industry in India. In his role as business head, he was instrumental in setting up and running large teams. An avid reader, fitness enthusiast and entrepreneur, Arun seeks to spread financial knowledge for the betterment of our society at large.

    Gaurav Wadhwani

    Gaurav Wadhwani is a management graduate from MDI Gurgaon. Gaurav is a seasoned banking professional with over a decade of experience. He specializes in the fields of credit, credit policy and credit analytics.

    Gaurav is a firm believer of the fact that the interests of borrowers and lenders are co-terminus. Both borrower and lender need each other not only for meeting personal and business objectives but also for the overall benefit of our economy.

    Aman Kapoor

    Aman is a literature graduate from Delhi University and is a seasoned retail banker. Aman has worked with various multinational banks and has had extensive exposure to credit markets in India and abroad. 

    Aman’s vision is to have a Credit Healthy India where every individual has equal opportunity to access the credit markets.

    **Arun and Gaurav are also co-founders of Credit Sudhaar; India’s leading Credit Health Management Company. Credit Sudhaar is an online platform which helps clients to manage their credit profiles and save money.

    Photo Caption: Mr. Gaurav Wadhwani (Right), Mr. Arun Ramamurthy (Centre) and Mr. Aman Kapoor (Left) co-authors of Unlock the Power of Your Credit Score at the launch of the book at Oxford book store, Mumbai

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    Business Wire India

    • Enables any individual to transact and manage money through a single mobile app
    • Offers mobile wallet, online, offline payments and a seamless in-app shopping & ticketing experience
    • Facilitates opening of savings a/c and cash out at ATMs
    • Helps analyze one’s spends and rewards for saving

    Axis Bank, India’s third largest private sector bank, today announced the launch of LIME, the country’s first mobile app that offers Wallet, Shopping, Payments & Banking. LIME will act as an independent app, empowering any person to open individual, shared mobile wallets and make seamless peer to peer as well as online, offline merchant payments. Users can also experience the convenience of in-app shopping that allows them to compare and buy products and services.  LIME will enable individuals to open a full-fledged savings account digitally, by completing the KYC process, using their mobile.
    Commenting on the launch, Ms. Shikha Sharma, Managing Director and CEO, Axis Bank said, “Customer preferences are changing rapidly and technology is transforming the way these preferences are being met.  Our effort has been to constantly innovate through the use of smart technology to meet these evolving needs. LIME is the next big step in this journey."
    Further, Mr. Rajiv Anand, Group Executive & Head Retail Banking, Axis Bank, added “Given the boom in smartphone ownership across India, people are interacting with their banks digitally. LIME is an integrated mobile app that offers high customer engagement through new digital and financial behaviours.  It offers a connected suite of services designed specifically to address the users’ shopping, payment and banking needs. LIME will change the way people manage their money and set financial goals.”
    Leveraging the strength of the expertise available in-house at Axis Bank, LIME is a fresh take on the way people interact with their money. The LIME suite of services creates value by connecting an ecosystem of consumers and partners with the Bank.
    Key features of LIME are as follows:

    • LIME Wallet: Payments made simpler via wallet. One can add money from credit / debit cards or net banking. Simple authentication via 4 digit mPIN.

    • Shared Wallet: Share wallet with loved ones. For instance, father can set aside Rs. 5,000 as a Shared LIME Wallet tool for his daughter from which she can seamlessly withdraw anytime.

    • Pool Money: Allows users to pool funds into a shared wallet for a particular purpose (eg. vacation/gift) and refund later equally or in proportion



    • Compare & Shop: With LIME, users can compare products across online shopping portals and shop within the app.

    • Travel & Entertainment: Book flights, bus tickets, movies and plan vacations without leaving the app.

    • In-store payments: The payment functionalities in the app allow users to do proximity payments at offline merchants through mobile & sound


    • Bill Pay and recharge: All utility payments eg. DTH, mobile recharge, gas can be made through the wallet with one-click payment.

    • Transfer Money: Users can make wallet to wallet payments, wallet to other bank account payments and even send money to their social network.

    • Split Bills: Easy way to track who’s spent how much and on what. Works great if you’re dining out with friends or splitting monthly expenses with your flat-mates.

    • LIME Pay: Enables secure and easy payments on any app or m-site on phone. First-of-its-kind one-click payment feature

    1. BANKING

    • Digital savings account: Allows users to initiate and complete KYC process using Aadhaar from their mobile in few simple steps. The account number is instantly generated on LIME. Upgrading to an account will allow access to additional features and an option of saving in investment options. 

    • Goals: Users can choose a goal to save towards (eg. car, home, vacation etc) with amount required, time to goal and seed fund/installment and then allocate funds towards this goal from their account. Contribution by users will fetch them higher returns.

    • Piggy Bank: This feature rounds up change during wallet usage and invests directly into a high yield deposit. Helps inculcate better financial behavior


    • One View: Keeps track of users’ spending habits and provides insights to help them spend better. Gives a consolidated view on all account balances, credit cards, wallets, savings and deposits across any bank or card.

    • Receipt Box: Store and share bills and receipts. Users can take a picture of their bills and categorize their spends.

    • Genius Insights: Tailored insights to help users save regularly. Helps inculcate a saving habit – all while helping users upgrade to the next level of expertise.

    About Axis Bank: Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
    With its 2,589 domestic branches (including extension counters) and 12,179 ATMs across the country, as on 30th June 2015, the network of Axis Bank spreads across 1,714 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi. The Bank’s website offers comprehensive details about its products and services.

    Photo Caption: Ms.Shikha Sharma, MD & CEO, Axis Bank, Deepika Padukone, Mr. Rajiv Anand

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    Business Wire IndiaUAE Exchange India, the leading financial institution has adopted a holistic approach to connect fast with customers through virtualization. To add further improvement, UAE Exchange India has adopted virtual space to deliver excellent services to customers in every nook and corner of the nation.
    The new mobile app aims to enhance customer convenience, security, and round the clock service via digitalization. Seeing the demands and needs of present generation, UAE Exchange is taking a step ahead for providing a better financial and digital India. “We are elated to serve our customers with digitally advanced financial services, an initiative to digital India“ said Mr. V George Antony, Managing Director, UAE Exchange India.
    The unique mobile app features customized financial solutions in Foreign Exchange, Loans, Money Transfer and Travel and Tours:

    • Add money to your wallet
    • Check the balance and transaction summary
    • Easy payments, recharge and online movie ticket booking
    • Transfer amount instantly
    • Online shopping
    • Holiday package booking
    • Foreign currency booking
    • 24*7 service
    Indian government has announced the shift to e-governance by the end of 2016, envisaging egalitarian governance. The wave to digitalization has started in every sector visualizing a brighter and smarter India. Be part of the digitally savvy nation by downloading XPay wallet, the advanced mobile app introduced by UAE Exchange India to upgrade you for the generation next
    UAE Exchange India has diversified financial convenience best suited for changing perspective of the customers across 385 branches in India ranging from Foreign Exchange, Send Money Abroad, Air Ticketing & Tours, Loans, Inward Money Transfer, Domestic Money Transfer, Insurance and Share Trading. 

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    Business Wire India

    JPMorgan Chase & Co. today announced up to $2 million in donations from its foundation and employees to provide immediate relief to refugees and help address the humanitarian crisis in Europe. Grants totaling $1 million from the JPMorgan Chase Foundation will support Save the Children, Oxfam, International Rescue Committee and International Medical Corps as they provide vital resources such as food, water, hygienic kits and medical support to those refugees arriving in countries such as Italy, Turkey, Greece and Lebanon.


    The JPMorgan Chase Foundation is also launching an employee giving campaign that will match employee donations dollar-for-dollar to these organizations. Specifically, the Foundation will double donations made by employees up to $500,000 for a total of $1 million in additional support.


    “Hundreds of thousands of refugees are fleeing their war-torn homelands, desperate for safety and the most basic human needs. Every person deserves to live free of violence and fear and to have access to the resources they need to survive,” said Daniel Pinto, head of J.P. Morgan in EMEA and CEO of the Corporate & Investment Bank. “JPMorgan Chase is proud to support Save the Children, Oxfam, International Rescue Committee and International Medical Corps, who are all on the ground responding.”


    JPMorgan Chase will support organizations working on the frontlines of the crisis to provide humanitarian relief to refugees from Syria and other countries in the region.

    • Save the Children is scaling up services within Syria, across the Middle East and in Europe to ensure the needs of refugee children and families on the move are met. Save the Children will ensure there are child-friendly spaces available for children and families and provide critical hygiene, shelter, baby care and other supplies to refugees.
    • Oxfamis providing life-saving clean water, sanitation and vital support for families in Syria, Jordan and Lebanon. Oxfam is also helping those arriving in Italy by providing food, clothes, shoes, and personal hygiene kits, as well as long-term psychological and legal support.
    • International Rescue Committee will provide crucial access to clean water and clothing, in addition to information on legal rights for refugees who have arrived in Greece.
    • International Medical Corps is scaling up services in Greece, Turkey, Hungary and the region to deploy mobile medical teams, provide health care services and distribute urgently needed supplies. This assistance is in addition to International Medical Corps’ long-standing and comprehensive relief programs inside Syria and in Iraq, Jordan, Lebanon and Turkey.

    JPMorgan Chase & Co. (NYSE:JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at





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    Business Wire IndiaPrivate equity funds managed by Blackstone today entered into a definitive agreement with Serco Group Plc to buy the majority of its private sector Business Process Outsourcing (‘BPO’) operations, the main element of which is the former Intelenet business, for a consideration of £250m, approximately INR 2,558 crores. The enterprise value of this deal represents the largest acquisition by Blackstone in India.

    The business has expected annual revenues of approximately £235m (INR 2,405 crores) for this year. The company has 51,000 full time employees across 67 centres in 8 countries. The private sector BPO business provides a range of middle and back office services, and has a strong customer base of international organisations, predominantly across the financial services, insurance, telecoms, travel and healthcare sectors.
    Post the change in ownership, the business will be rebranded and revived as “Intelenet Global Services.” The sale is expected to complete in the coming months, subject to customary closing conditions and approvals.
    Amit Dixit, Senior Managing Director and Co-Head of Private Equity in India at Blackstone, said: “We are excited to embark on the Intelenet 2.0 journey and delighted to once again partner with the company’s management team. With a market leading position in the offshore banking and travel/hospitality verticals and #1 position in domestic India BPO, Intelenet has the core platform to capitalize on future growth opportunities. We plan to replicate the same formula for success -- energize the employee base, focus on world-class operations to drive customer satisfaction, provide multi-geography and multi-language delivery, and enhance the company's capabilities in target segments organically and inorganically.”

    Susir Kumar, Chief Executive Officer, Serco Global Services, said “We are delighted to have another opportunity to partner with Blackstone. Serco was a good owner for Intelenet and had significantly grown the BPO business in its tenure. The business however was sold because of change in strategy of Serco which led to the sale of its private sector BPO business. We have retained almost all of our clients and key staff that we have had since our inception and look forward continuing to add value to them. We will shortly be working on a strategy that will enable us to significantly enhance our offering to existing customers and prospects. With the present management team continuing, this represents a seamless change of ownership and business as usual for all our stakeholders.”

    Under the terms of the transaction, the business will continue to be led by Susir Kumar, and the existing management team, which has been instrumental in the growth of the company.
    About Blackstone

    Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds, all on a global basis.  Blackstone has been investing in India since 2005 and has made investments over $3 billion in private equity and real estate. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, and fund placement services. Further information is available at Follow us on Twitter @Blackstone.
    About Serco

    Serco is a leading provider of public services. Our customers are governments or others operating in the public sector.  We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.
    More information can be found at
    About Serco’s Offshore Private Sector BPO business (the business being sold by Serco to Blackstone)

    Serco’s offshore private sector BPO business comprises primarily the offshore and Indian private sector BPO business of Serco with annual revenues of approximately £235m. It has 51,000 employees operating across 67 centres around 8 countries in the world. 70% of the business comprises of the offshore private sector business where services are provided to clients in US, India and middle-east from its centres at India and Philippines and 30% of the business comprises of services it provides to the Indian domestic market. Most of the work that the business does include end to end back and middle office services to clients in Banking & Financial Services, Telecom, Retail, Healthcare,  Travel, e-commerce and Utilities.

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    Business Wire India

    Jefferies Group LLC announced financial results for its fiscal third quarter 2015.


    Highlights for the three months ended August 31, 2015, with adjusted amounts excluding the operating results and wind down costs of our Bache business, which reflects a substantial portion of the final wind-down costs and write-offs, and the final period of meaningful operations:

    • Investment Banking Net Revenues of $390 million
    • Total Sales and Trading Net Revenues of $185 million
    • Total Adjusted Net Revenues of $583 million (excluding Bache)
    • Adjusted Net Earnings of $47 million (excluding Bache)
    • Net Earnings of $2 million (including Bache)

    Highlights for the nine months ended August 31, 2015, with adjusted amounts excluding the operating results and wind down costs of our Bache business:

    • Investment Banking Net Revenues of $1,066 million
    • Total Sales and Trading Net Revenues of $896 million
    • Total Adjusted Net Revenues of $1,882 million (excluding Bache)
    • Adjusted Net Earnings of $153 million (excluding Bache)
    • Net Earnings of $75 million (including Bache)

    Richard B. Handler, Chairman and Chief Executive Officer, and Brian P. Friedman, Chairman of the Executive Committee, commented:


    “Despite solid results in Investment Banking and Equities, our overall results are disappointing. Our Net Revenues for the quarter were $583 million and our Net Earnings were $47 million, excluding Bache. After a solid second quarter, the third quarter’s sales and trading environment was initially slow due to concerns about a possible Greek exit from the Euro, and then became more volatile and challenging in the second half of the quarter as news of China's economic growth deceleration led to a further deterioration of trading volumes and continuing declines in global asset prices. A substantial increase in volatility affected almost every asset class globally. This significantly impacted, among other areas, the distressed side of the credit market, most notably in the energy sector.”


    “Fixed Income net revenues were negative $14 million for the quarter, reflecting the slow environment and the volatility that resulted in mark-to-market write-downs in our inventory. Trading results of our high yield distressed sales and trading business for the quarter particularly impacted our results negatively. As is the nature of the distressed market making business, Jefferies assumes positions in sectors where the firm's clients and the market are most active, with mark to market gains and losses recognized on a daily basis. During the last nine months, losses totaling $90 million were recorded across more than 25 distressed energy positions. For the nine month period we recognized negative revenues in respect of the ten largest individual loss-making positions of about $4 million to $19 million each, or an average of about $8 million. These markdowns, combined with lower activity levels and more modest inventory write downs in several other areas of our global fixed income business, accounted for much of the balance of negative pressure on our fixed income results. As one of the leading investment banking platforms serving the energy sector, with meaningful recent involvement in restructurings and financings, we continue to be committed to our energy clients.”


    “We believe most of the issues we faced this past quarter in Fixed Income were due to distinct factors that began about a year ago and the largest portion of which relates to the turmoil in the oil and gas industry. For the first nine months of 2015, we have provided liquidity and traded approximately $5 billion in distressed energy securities for our clients. Our exposures in our distressed energy trading business decreased approximately 50% during the quarter and are currently down to $70 million in total net market value. We believe that, with our exposures in distressed securities reduced to current levels, there should be no similar impact on our future results.”


    “While adversely affected by the sell-off in the global markets during August, our core Equities business performed reasonably. Equities Net Revenues for the period were $203 million. Jefferies Investment Banking Net Revenues were a very solid $390 million, including our best quarter ever in Equity Capital markets. For the nine months ended August 31, 2015, our fee based investment represented 54% of net revenues, a similar proportion to the comparable period a year ago. Our investment banking backlog remains robust and diverse in terms of products, sectors and regions. Our level 3 assets remain below 3% of our inventory, and all of our balance sheet and liquidity metrics are in line with every one of our historical ranges. We reduced our KCG position during the quarter by tendering 6.5 million shares at $14 per share, realizing $91 million in cash.”


    "We have substantially completed the unwind of Bache within our expectations of timing, cost and write-offs. We have transferred virtually all client accounts to Societe Generale and other service providers. No meaningful risk pertaining to this business remained on our books at the end of the third quarter. To put into perspective how the impact Bache has had on our recent results, in 2014 our firmwide net income of $158 million included a net loss of $100 million with respect to Bache. Similarly, for the 2015 full fiscal year, we expect Jefferies will incur the same net loss in respect of Bache as we did in 2014, or about $100 million, including all material final-wind down costs. For the first nine months of 2015, our results include a net loss of $77 million with respect to Bache. These overall results included a write-off of goodwill of $52 million in 2014 and non-cash write-offs of $24 million in 2015 on a pre-tax basis. We are pleased finally to be able to move on.”


    “While market dislocations occur from time to time, they typically have allowed us opportunities to take advantage of our unique competitive position as we continue to invest across Jefferies to improve our capabilities to serve our growing client base. We have made key hires this summer in Investment Banking, Equities and Fixed Income, and we expect to continue to grow our market share by serving well our existing and new clients globally.”


    “With our business mix simplified and more focused with the unwind of Bache, Jefferies should be able to deliver more consistent and stronger results. Our progress and momentum across the rest of our firm have been offset by the trading losses and sluggish activity of a handful of businesses. Our overriding goal is to deliver results in this fourth quarter and in 2016 that reflect the full earnings power of the Jefferies franchise in Equities, Fixed Income and Investment Banking.”


    The attached financial tables should be read in connection with our Quarterly Report on Form 10-Q for the quarter ended May 31, 2015 and our Annual Report on Form 10-K for the year ended November 30, 2014. Amounts pertaining to August 31, 2015 represent a preliminary estimate as of the date of this earnings release and may be revised in our Quarterly Report on Form 10-Q for the quarterly period ended August 21, 2015. Adjusted financial measures referenced above are non-GAAP financial measures, which management believes provide meaningful information to enable investors to evaluate the Company's results in the context of exiting the Bache business. Refer to the Supplemental Schedules on pages 6-8 for a reconciliation of Adjusted measures to the respective direct U.S. GAAP financial measures.


    This release contains "forward-looking statements" within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements about our future results and performance, including our future market share, expected financial results and unwind costs of Bache. It is possible that the actual results may differ materially from the anticipated results indicated in these forward-looking statements. Please refer to our most recent Annual Report on Form 10-K for a discussion of important factors that could cause actual results to differ materially from those projected in these forward-looking statements.


    Jefferies, the global investment banking firm focused on serving clients for over 50 years, is a leader in providing insight, expertise and execution to investors, companies and governments. The firm provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income and foreign exchange, as well as wealth management, in the Americas, Europe and Asia. Jefferies Group LLC is a wholly-owned subsidiary of Leucadia National Corporation (NYSE:LUK), a diversified holding company.

    (Amounts in Thousands)
        Quarter Ended
        August 31, 2015   May 31, 2015   August 31, 2014
    Commissions     $ 172,284       $ 173,508       $ 159,085  
    Principal transactions     (50,297 )     155,962       144,354  
    Investment banking     389,820       404,262       467,793  
    Asset management fees and investment
    income from managed funds
        4,182       5,650       8,463  
    Interest income     230,805       240,552       249,251  
    Other revenues     34,329       28,576       26,489  
    Total revenues     781,123       1,008,510       1,055,435  
    Interest expense     202,195       216,956       212,126  
    Net revenues     578,928       791,554       843,309  
    Non-interest expenses:                  
    Compensation and benefits     336,499       480,770       477,268  
    Non-compensation expenses:                  
    Floor brokerage and clearing fees     45,307       58,713       55,967  
    Technology and communications     89,378       72,361       67,286  
    Occupancy and equipment rental     25,967       24,420       28,477  
    Business development     30,527       26,401       27,800  
    Professional services     24,684       27,419       31,231  
    Other     19,473       16,758       19,645  
    Total non-compensation expenses     235,336       226,072       230,406  
    Total non-interest expenses     571,835       706,842       707,674  
    Earnings before income taxes     7,093       84,712       135,635  
    Income tax expense     4,609       24,530       51,762  
    Net earnings     2,484       60,182       83,873  
    Net earnings attributable to noncontrolling interests     427       349       312  
    Net earnings attributable to Jefferies Group LLC     $ 2,057       $ 59,833       $ 83,561  
    Pretax operating margin     1.2 %     10.7 %     16.1 %
    Effective tax rate     65.0 %     29.0 %     38.2 %


    (Amounts in Thousands)
        Nine Months Ended
        August 31, 2015   August 31, 2014
    Commissions     $ 512,714       $ 488,526  
    Principal transactions     211,142       566,133  
    Investment banking     1,066,077       1,213,262  
    Asset management fees and investment
    income (loss) from managed funds
        (5 )     15,319  
    Interest income     700,227       782,059  
    Other revenues     82,810       57,962  
    Total revenues     2,572,965       3,123,261  
    Interest expense     610,811       657,932  
    Net revenues     1,962,154       2,465,329  
    Non-interest expenses:            
    Compensation and benefits     1,182,484       1,390,043  
    Non-compensation expenses:            
    Floor brokerage and clearing fees     159,100       159,500  
    Technology and communications     234,126       201,849  
    Occupancy and equipment rental     74,571       81,652  
    Business development     78,865       79,193  
    Professional services     76,359       81,395  
    Other     51,960       54,656  
    Total non-compensation expenses     674,981       658,245  
    Total non-interest expenses     1,857,465       2,048,288  
    Earnings before income taxes     104,689       417,041  
    Income tax expense     29,470       155,962  
    Net earnings     75,219       261,079  
    Net earnings attributable to noncontrolling interests     1,647       3,760  
    Net earnings attributable to Jefferies Group LLC     $ 73,572       $ 257,319  
    Pretax operating margin     5.3 %     16.9 %
    Effective tax rate     28.2 %     37.4 %


    (Amounts in Thousands)
        Quarter Ended August 31, 2015
        GAAP   Adjustments   Adjusted
    Net revenues     $ 578,928       $ (4,289 ) (1)   $ 583,217  
    Non-interest expenses:                  
    Compensation and benefits     336,499       22,117   (2)   314,382  
    Non-compensation expenses     235,336       37,708   (3)   197,628  
    Total non-interest expenses     571,835       59,825   (4)   512,010  
    Operating income (loss)     $ 7,093       $ (64,114 )     $ 71,207  
    Net earnings (loss)     $ 2,484       $ (44,318 )     $ 46,802  
    Compensation ratio (a)     58.1 %           53.9 %
        Quarter Ended May 31, 2015
        GAAP   Adjustments   Adjusted
    Net revenues     $ 791,554       $ 35,697   (1)   $ 755,857  
    Non-interest expenses:                  
    Compensation and benefits     480,770       34,473   (2)   446,297  
    Non-compensation expenses     226,072       38,536   (3)   187,536  
    Total non-interest expenses     706,842       73,009       633,833  
    Operating income (loss)     $ 84,712       $ (37,312 )     $ 122,024  
    Net earnings (loss)     $ 60,182       $ (25,505 )     $ 85,687  
    Compensation ratio (a)     60.7 %           59.0 %
        Quarter Ended August 31, 2014
        GAAP   Adjustments   Adjusted
    Net revenues     $ 843,309       $ 47,928   (1)   $ 795,381  
    Non-interest expenses:                  
    Compensation and benefits     477,268       22,602   (2)   454,666  
    Non-compensation expenses     230,406       36,068   (3)   194,338  
    Total non-interest expenses     707,674       58,670       649,004  
    Operating income (loss)     $ 135,635       $ (10,742 )     $ 146,377  
    Net earnings (loss)     $ 83,873       $ (5,660 )     $ 89,533  
    Compensation ratio (a)     56.6 %           57.2 %

    (a) Reconciliation of the compensation ratio for U.S. GAAP to Adjusted is a derivation of the reconciliation of the components above.


    This presentation of Adjusted financial information is an unaudited non-GAAP financial measure. Adjusted financial information begins with information prepared in accordance with U.S. GAAP and then those results are adjusted to exclude the operations of the Company's Bache business. The Company believes that the disclosed Adjusted measures and any adjustments thereto, when presented in conjunction with comparable U.S. GAAP measures are useful to investors as they enable investors to evaluate the Company's results in the context of exiting the Bache business. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP.

    (Amounts in Thousands)
        Nine Months Ended August 31, 2015
        GAAP   Adjustments   Adjusted
    Net revenues     $ 1,962,154       $ 80,562   (1)   $ 1,881,592  
    Non-interest expenses:                  
    Compensation and benefits     1,182,484       80,570   (2)   1,101,914  
    Non-compensation expenses     674,981       114,841   (3)   560,140  
    Total non-interest expenses     1,857,465       195,411   (4)   1,662,054  
    Operating income (loss)     $ 104,689       $ (114,849 )     $ 219,538  
    Net earnings (loss)     $ 75,219       $ (77,437 )     $ 152,656  
    Compensation ratio (a)     60.3 %           58.6 %
        Nine Months Ended August 31, 2014
        GAAP   Adjustments   Adjusted
    Net revenues     $ 2,465,329       $ 147,890   (1)   $ 2,317,439  
    Non-interest expenses:                  
    Compensation and benefits     1,390,043       76,824   (2)   1,313,219  
    Non-compensation expenses     658,245       104,511   (3)   553,734  
    Total non-interest expenses     2,048,288       181,335       1,866,953  
    Operating income (loss)     $ 417,041       $ (33,445 )     $ 450,486  
    Net earnings (loss)     $ 261,079       $ (17,130 )     $ 278,209  
    Compensation ratio (a)     56.4 %           56.7 %

    (a) Reconciliation of the compensation ratio for U.S. GAAP to Adjusted is a derivation of the reconciliation of the components above.


    This presentation of Adjusted financial information is an unaudited non-GAAP financial measure. Adjusted financial information begins with information prepared in accordance with U.S. GAAP and then those results are adjusted to exclude the operations of the Company's Bache business. The Company believes that the disclosed Adjusted measures and any adjustments thereto, when presented in conjunction with comparable U.S. GAAP measures are useful to investors as they enable investors to evaluate the Company's results in the context of exiting the Bache business. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP.




    (1) Revenues generated by the Bache business, including commissions, principal transaction revenues and net interest revenue, for the presented period have been classified as a reduction of revenue in the presentation of Adjusted financial measures.


    (2) Compensation expense and benefits recognized during the presented period for employees whose sole responsibilities pertain to the activities of the Bache business, including front office personnel and dedicated support personnel, have been classified as a reduction of Compensation and benefits expense in the presentation of Adjusted financial measures.


    (3) Expenses directly related to the operations of the Bache business for the presented periods have been excluded from Adjusted non-compensation expenses. These expenses include Floor brokerage and clearing fees, amortization of capitalized software used directly by the Bache business in conducting its business activities, technology and occupancy expenses directly related to conducting Bache business operations and business development and professional services expenses incurred by the Bache business as part of its client sales and trading activities, including estimates of certain support costs dedicated to the Bache business.


    (4) Total non-interest expenses for the three and nine months ended August 31, 2015 include costs of $33.1 million and $61.7 million, respectively, on a pre-tax basis, related to our exit of the Bache business. The after-tax effect of these costs is $23.7 million and $44.2 million for the three and nine months ended August 31, 2015, respectively. These costs consist primarily of severance, retention and benefit payments for employees, incremental amortization of outstanding restricted stock and cash awards, contract termination costs and incremental amortization expense of capitalized software expected to no longer be used subsequent to the wind-down of the business. We expect to incur additional costs of $11.8 million and $8.5 million on a pre-tax and post-tax basis, respectively, over the remainder of fiscal 2015.

    (Amounts in Thousands, Except Other Data)
          Quarter Ended
          August 31, 2015   May 31, 2015   August 31, 2014

    Revenues by Source

    Equities   $ 203,077     $ 228,198     $ 171,708
    Fixed income   (18,151 )   153,444     195,345
      Total sales and trading   184,926     381,642     367,053
    Equity   127,051     108,805     93,309
    Debt   113,928     154,670     175,597
    Capital markets   240,979     263,475     268,906
    Advisory   148,841     140,787     198,887
      Total investment banking   389,820     404,262     467,793
    Asset management fees and investment income (loss)
    from managed funds:
    Asset management fees   7,067     4,903     7,379
    Investment (loss) income from managed funds   (2,885 )   747     1,084
      Total   4,182     5,650     8,463
    Net revenues   $ 578,928     $ 791,554     $ 843,309



    Other Data

    Number of trading days   65     63     64
    Number of trading loss days   21     10     9
    Number of trading loss days excluding KCG   18     5     2
    Average firmwide VaR (in millions) (A)   $ 13.77     $ 12.80     $ 13.50
    Average firmwide VaR excluding KCG (in millions) (A)   $ 12.16     $ 9.86     $ 8.25

    (A) VaR estimates the potential loss in value of our trading positions due to adverse market movements over a one-day time horizon with a 95% confidence level. For a further discussion of the calculation of VaR, see "Value at risk" in Part II, Item 7 "Management's Discussion and Analysis" in our Annual Report on Form 10-K for the year ended November 30, 2014.

    (Amounts in Thousands, Except Other Data)
          Nine Months Ended
          August 31, 2015   August 31, 2014

    Revenues by Source

    Equities   $ 634,754     $ 537,769  
    Fixed income   261,328     698,979  
      Total sales and trading   896,082     1,236,748  
    Equity   314,927     271,773  
    Debt   329,474     495,635  
    Capital markets   644,401     767,408  
    Advisory   421,676     445,854  
      Total investment banking   1,066,077     1,213,262  
    Asset management fees and investment income (loss)
    from managed funds:
    Asset management fees   25,955     21,752  
    Investment (loss) income from managed funds   (25,960 )   (6,433 )
      Total   (5 )   15,319  
    Net revenues   $ 1,962,154     $ 2,465,329  

    Other Data

    Number of trading days   189     188  
    Number of trading loss days   42     27  
    Number of trading loss days excluding KCG   32     11  
    Average firmwide VaR (in millions) (A)   $ 13.29     $ 14.88  
    Average firmwide VaR excluding KCG (in millions) (A)   $ 10.47     $ 9.80  

    (A) VaR estimates the potential loss in value of our trading positions due to adverse market movements over a one-day time horizon with a 95% confidence level. For a further discussion of the calculation of VaR, see "Value at risk" in Part II, Item 7 "Management's Discussion and Analysis" in our Annual Report on Form 10-K for the year ended November 30, 2014.

    (Amounts in Millions, Except Where Noted)
        Quarter Ended
        August 31, 2015   May 31, 2015   August 31, 2014

    Financial position:

    Total assets (1)   $ 42,785     $ 44,142     $ 44,764  
    Average total assets for the period (1)   $ 48,327     $ 51,013     $ 51,369  
    Average total assets less goodwill and intangible assets for the period (1)   $ 46,432     $ 49,118     $ 49,387  
    Cash and cash equivalents (1)   $ 3,442     $ 3,289     $ 4,035  
    Cash and cash equivalents and other sources of liquidity (1) (2)   $ 5,151     $ 4,951     $ 5,913  
    Cash and cash equivalents and other sources of liquidity - % total assets (1) (2)   12.0 %   11.2 %   13.2 %
    Cash and cash equivalents and other sources of liquidity - % total assets less goodwill

    and intangible assets (1) (2)

      12.6 %   11.7 %   13.8 %
    Financial instruments owned (1)   $ 18,892     $ 18,843     $ 18,420  
    Goodwill and intangible assets (1)   $ 1,891     $ 1,895     $ 1,978  
    Total equity (including noncontrolling interests)   $ 5,514     $ 5,520     $ 5,602  
    Total member's equity   $ 5,481     $ 5,480     $ 5,571  
    Tangible member's equity (3)   $ 3,590     $ 3,584     $ 3,593  
    Bache assets (4)   $ 263     $ 2,955     $ 3,641  

    Level 3 financial instruments:

    Level 3 financial instruments owned (1) (5) (6)   $ 474     $ 540     $ 462  
    Level 3 financial instruments owned - % total assets (1) (6)   1.1 %   1.2 %   1.0 %
    Total Level 3 financial instruments owned - % total financial instruments (1) (6)   2.5 %   2.9 %   2.5 %
    Level 3 financial instruments owned - % tangible member's equity (1) (6)   13.2 %   15.1 %   12.9 %

    Other data and financial ratios:

    Total capital (1) (7)   $ 10,850     $ 10,860     $ 11,970  
    Leverage ratio (1) (8)   7.8     8.0     8.0  
    Adjusted leverage ratio (1) (9)   10.3     10.3     10.5  
    Tangible gross leverage ratio (1) (10)   11.4     11.8     11.9  
    Leverage ratio - excluding impacts of the Leucadia transaction (1) (11)   9.8     10.1     10.1  
    Number of trading days   65     63     64  
    Number of trading loss days   21     10     9  
    Number of trading loss days excluding KCG   18     5     2  
    Average firmwide VaR (12)   $ 13.77     $ 12.80     $ 13.50  
    Average firmwide VaR excluding KCG (12)   $ 12.16     $ 9.86     $ 8.25  
    Number of employees, at period end   3,665     3,830     3,885  





    (1) Amounts pertaining to August 31, 2015 represent a preliminary estimate as of the date of this earnings release and may be revised in our Quarterly Report on Form 10-Q for the quarterly period ended August 31, 2015.


    (2) At August 31, 2015, other sources of liquidity include high quality sovereign government securities and reverse repurchase agreements collateralized by U.S. government securities and other high quality sovereign government securities of $1,263 million, in aggregate, and $446 million, being the total of the estimated amount of additional secured financing that could be reasonably expected to be obtained from our financial instruments that are currently not pledged at reasonable financing haircuts. At May 31, 2015 and August 31, 2014 amounts also included additional funds that were available under the committed senior secured revolving credit facility available for working capital needs of Jefferies Bache. The corresponding amounts included in other sources of liquidity at May 31, 2015 were $1,135 million and $527 million, respectively, and at August 31, 2014, were $1,530 million and $348 million, respectively.


    (3) Tangible member's equity (a non-GAAP financial measure) represents total member's equity less goodwill and identifiable intangible assets. We believe that tangible member's equity is meaningful for valuation purposes, as financial companies are often measured as a multiple of tangible member's equity, making these ratios meaningful for investors.


    (4) Bache assets (a non-GAAP financial measure) includes Cash and cash equivalents, Cash and securities segregated, Financial instruments owned, Securities purchased under agreements to resell and Receivables attributable to our Bache business.


    (5) Level 3 financial instruments represent those financial instruments classified as such under Accounting Standards Codification 820, accounted for at fair value and included within Financial instruments owned.


    (6) In May 2015, the Financial Accounting Standards Board issued Accounting Standards Update No. 2015-07, “Fair Value Measurement (Topic 820) - Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” The guidance removes the requirement to include investments in the fair value hierarchy for which the fair value is measured at net asset value using the practical expedient under “Fair Value Measurements and Disclosures (Topic 820).” The guidance also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value practical expedient. Rather, those disclosures are limited to investments for which we have elected to measure the fair value using that practical expedient. The guidance is effective retrospectively and we have early adopted this guidance during the second quarter of fiscal 2015.


    (7) At August 31, 2015, May 31, 2015 and August 31, 2014, total capital includes our long-term debt of $5,337 million, $5,340 million and $6,368 million, respectively, and total equity. Long-term debt included in total capital is reduced by amounts outstanding under the revolving credit facility and the amount of debt maturing in less than one year, where applicable.


    (8) Leverage ratio equals total assets divided by total equity.


    (9) Adjusted leverage ratio (a non-GAAP financial measure) equals adjusted assets divided by tangible total equity, being total equity less goodwill and identifiable intangible assets. Adjusted assets (a non-GAAP financial measure) equals total assets less securities borrowed, securities purchased under agreements to resell, cash and securities segregated, goodwill and identifiable intangibles plus financial instruments sold, not yet purchased (net of derivative liabilities). At August 31, 2015, May 31, 2015 and August 31, 2014, adjusted assets were $37,241 million, $37,172 million and $38,100 million, respectively. We believe that adjusted assets is a meaningful measure as it excludes certain assets that are considered of lower risk as they are generally self-financed by customer liabilities through our securities lending activities.


    (10) Tangible gross leverage ratio (a non-GAAP financial measure) equals total assets less goodwill and identifiable intangible assets divided by tangible member's equity. The tangible gross leverage ratio is used by rating agencies in assessing our leverage ratio.


    (11) Leverage ratio - excluding impacts of the Leucadia transaction (a non-GAAP financial measure) is calculated as follows:

          August 31,   May 31,   August 31,
    $ millions     2015   2015   2014
    Total assets     $ 42,785     $ 44,142     $ 44,764  
    Goodwill and acquisition accounting fair value adjustments on the

    transaction with Leucadia

        (1,957 )   (1,957 )   (1,957 )
    Net amortization to date on asset related purchase accounting


        120     116     42  
    Total assets excluding transaction impacts     $ 40,948     $ 42,301     $ 42,849  
    Total equity     $ 5,514     $ 5,520     $ 5,602  
    Equity arising from transaction consideration     (1,426 )   (1,426 )   (1,426 )
    Preferred stock assumed by Leucadia     125     125     125  
    Net amortization to date of purchase accounting adjustments, net

    of tax

        (41 )   (31 )   (58 )
    Total equity excluding transaction impacts     $ 4,172     $ 4,188     $ 4,243  
    Leverage ratio - excluding impacts of the Leucadia transaction     9.8     10.1     10.1  

    (12) VaR estimates the potential loss in value of our trading positions due to adverse market movements over a one-day time horizon with a 95% confidence level. For a further discussion of the calculation of VaR, see "Value at risk" in Part II, Item 7 "Management's Discussion and Analysis" in our Annual Report on Form 10-K for the year ended November 30, 2014.





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