Whalesbook
Persistent Systems is intensifying its focus on the private equity sector with a significant leadership appointment. Hari S. Abhyankar has been named Executive Vice President and Global Head of Private Equity and Professional Services. This strategic appointment aims to strengthen the company's capacity to deliver AI-led transformation for private equity firms and their portfolio companies.
Abhyankar joins Persistent Systems with extensive experience from McKinsey & Company, where he served as a Partner. His background includes leveraging Artificial Intelligence (AI), strategy, and analytics to drive business results. He holds a PhD from MIT and possesses broad experience in P&L management and leading transformations across sales, marketing, product, and revenue operations. His expertise is expected to be crucial in translating complex AI strategies into tangible business outcomes for PE-backed entities.
This appointment highlights Persistent's strategy to deepen its expertise in AI-driven business transformation, catering to private equity firms that are increasingly looking to AI to enhance operational efficiency, accelerate growth, and drive value realization in their investments. Persistent plans to leverage its engineering and AI skills to help PE clients modernize platforms and get more value from their investments.
This move aligns with Persistent Systems' ongoing efforts to position itself as a leader in digital engineering and enterprise modernization, with a strong emphasis on AI. The company has a stated strategy of collaborating with private equity firms to deliver value throughout the investment lifecycle.
The appointment is expected to enhance AI and transformation capabilities for Persistent's Private Equity and Professional Services clients. It brings strengthened leadership with deep expertise in strategic consulting and operational execution, accelerating focus on driving value realization and growth for PE portfolio companies through technology and AI. The company anticipates this will help boost new client wins and revenue growth within these key segments.
The IT services landscape sees major players like TCS and Infosys investing significantly in AI and digital transformation to meet evolving client demands. In this environment, mid-tier firms such as Persistent, Coforge, and Mphasis have shown strong recent performance, often outperforming larger rivals by leveraging AI capabilities and securing key deals.
Investors will be monitoring the execution of AI-led transformation strategies within the PE and Professional Services sectors. Key areas to watch include new client acquisitions and partnerships within the private equity ecosystem, and the growth metrics for the Private Equity and Professional Services business vertical. The impact of Abhyankar's leadership on Persistent's market position in AI-driven solutions will also be closely observed.
Persistent Systems reported a revenue run rate of approximately $1.6 billion for the trailing twelve months ending December 31, 2025. As of December 2024, Persistent Systems had over 23,941 employees globally. The company was recognized as the fastest-growing Indian IT Services brand in the 2024 Brand Finance India 100 Report, showing a 327% growth in brand value since 2020.