Acuity Knowledge Partners reaffirms commitment to Sri Lanka
July 27, 2022
Amidst the economic challenges which Sri Lanka continues to grapple with Acuity Knowledge Partners (Acuity), a leading provider of bespoke research, analytics and technology solutions to the financial services sector, is announcing plans to expand its workforce in the country and to enhance healthcare and remuneration benefits to its employees based in Colombo.
The economic outlook in Sri Lanka continues to remain uncertain due to fiscal and external imbalances. Year on year inflation has accelerated amid rising global commodity prices, fuel prices and partial monetisation of the fiscal deficit.
However, this is not impacting on the service which Acuity’s Sri Lankan team provides to over 50 leading global financial institutions. In recognition of Acuity’s employees continued commitment, the firm is reinforcing its focus on an employee-centric work culture.
Effective from 1 July, Acuity’s Colombo-based employees will benefit from enhanced medical insurance cover, a significant increase in annual base salary as a long-term measure and an additional monthly cost-of-living allowance for at least the next six months. This is in addition to increased salaries and performance bonuses awarded in April this year.
Changes to the insurance cover provided to employees will provide: 25% enhancement in surgical and hospitalisation cover; 25% enhancement in Life insurance cover, and OPD cover is enhanced for all the employees.
In addition to the enhancement of medical insurance and OPD covers, Acuity is providing even increased allowances for transport, meals and other expenses.
These moves are further testimony to Acuity’s ongoing commitment to stand by its employees during this tumultuous period. In addition, with a team size of over 450 employees as of June 2022, Acuity is announcing that it will continue hiring in Sri Lanka with a target to grow its team to over 500 employees by year end 2022.
Acuity Knowledge Partners CEO Robert King said: “While the current economic conditions present many challenges, these will not deter Acuity Knowledge Partners from expanding its presence in Sri Lanka. We have grown both our global and Sri Lankan staff significantly since 2020 and we expect the growth momentum to continue in the future. The creation of centres of excellence and the sustainability of high-quality talent is a long-term project. Acuity has been proudly present in Sri Lanka since 2003.”
“In the past two decades, Acuity has played a significant role in Colombo’s rise as a centre for international financial services. We will continue that commitment,” he added.
Managing Director and Country Head Sri Lanka Chanakya Dissanayake said: “Acuity Knowledge Partners has played an instrumental role in Sri Lanka’s capital market talent creation over the last two decades.
“The organisation has established long standing relationships with all the major State universities and global professional bodies such as ACCA, CIMA and CFA, with whom it has close ties. Through these relationships Acuity is growing the pool of technically sound finance and research talent in Sri Lanka.”
“As the country experiences increasing challenges, the company continues to invest substantially in its people, recognising the importance of professional services to the continued functioning of financial markets, and contributing meaningfully to its employees, clients and communities,” added Dissanayake.
Acuity Knowledge Partners is a leading research, analytics, and business intelligence consultant to the financial services sector. The company’s network of analysts and industry experts, combined with advanced data and technology, supports over 420 financial institutions and consulting companies worldwide to operate more efficiently and unlock their human capital, driving revenues higher and transforming operations.
It specialises in investment banking, investment research, private equity and consulting and commercial lending. Acuity is headquartered in London and operates from nine locations worldwide. In 2019, the company was established as a separate business from Moody’s Corporation through its acquisition from Equistone Partners.