Genpact is an American professional services firm legally domiciled in Bermuda with its headquarters in New York City, New York. The company currently employs more than 100,000 people and provides services to clients in over 30 countries worldwide. Genpact is listed on the NYSE and in 2021 generated revenues of US$3.71 billion. History Founding and early developments Genpact was founded in 1997 as a unit of General Electric. The company was founded as GE Capital International Services (GECIS) in New Delhi. Starting with 20 employees under the leadership of CEO Pramod Bhasin, its charter was to provide business process outsourcing solutions to GE's businesses. In the beginning, GECIS created processes for outsourcing back-office activities for GE Capital such as processing car loans and credit card transactions. It was an experimental concept at the time and the beginning of the Business-Process-Outsourcing (BPO) industry. One year after its launch, GECIS employed about 800 people and generated revenues of US$4 million. By 2001, GECIS operations had grown to 12,000 employees and the company began to manage a wide range of processes across GE's financial services and manufacturing businesses. Jack Welsh, CEO of GE at the time, said that GECIS was a key driver of GE’s growth between 1998 and 2001, and was responsible for reducing operating costs by approximately US$1 billion. In 2003, GE reduced its stake in GECIS to 40% and sold the remainder to two American private equity firms. At the time of the sale, GECIS employed around 13,000 people in India and 4,000 people in the US, China, Hungary and Mexico, providing a range of solutions in areas such as finance and accounting, insurance claim processing, IT management and technical support. By 2004, GECIS oversaw around 700 business processes for GE that had migrated from the US to India, generating revenues of US$426 million. Independence and international growth In January 2005, the company became independent and started to serve clients outside of GE. As part of this transition, the company changed its name to Genpact for “generating business impact.” Also in 2005, the company opened additional offices in India and by the end of the year, recorded US$493 million in revenue, with 15% coming from new global clients, and the remaining 85% from GE. In 2006, Genpact further expanded in India, the Philippines, Mexico and China. In August 2007, Genpact was listed on the NYSE under the symbol 'G'. The