I have worked with the range of companies in Ukraine. They do provide the quailified dev services as well as PM. Check those guys:
- Global logic
You can look for a reliable parnter among Ukrainian software outsourcing companies. They are more reliable than the cheapest Indian ones as my own experience shows. Previously Daxx and Ciklum were mentioned in the comments, and also I can recommend guys from https://qubit-labs.com/
The prices are reasonable if your main goal is to save money, and they met the deadline (what was also important for me).
You probably won't find them in dev shops - think about it, they're upselling the cost of labor to manage programmers that your CTO should be managing. Once you outsource, you won't really have a legal recourse if they steal the money anyway so why pay extra for a "firm". Best is to find qualified individuals to get the job done. That being said, I'd suggest your CTO literally drill those candidates to really see what they're made of and if they're actually qualified to handle your tasks - don't just ask the vague questions. Drill them.
Outsourced, American, doesn't really matter - cheaters, liars, and flakes are plentiful. All of that being said, Australia is ironically a decent outsourcing outlet lately.
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@Michael Brill Let me know if you still have that CEO opening...