Capco Extends Global Reach With Addition of South African Office to Enable Financial Firms to Implement Post-crisis Change Programmes

JOHANNESBURG, August 1, 2011 -

- Johannesburg-based Team Hired to Serve Africa-based Financial Services Institutions

Capco, the global business and technology consultancy dedicated solely to the financial services industry, today announced the opening of an office in Johannesburg, South Africa. Staffed by a team of financial services industry experts, the South African office has been launched to better serve Capco’s existing Africa-based clients and attract the attention of prospective banking and capital markets clients interested in working with a consultancy dedicated to the financial services industry.

The new South African office is Capco’s thirteenth office location across four continents, and further strengthens the firm’s global reach.

Capco research suggests that, while the South African financial services industry has not been as hard hit as other global financial centres, Africa-based financial services institutions are still looking to make significant improvements to their business operations. The most common focus of local change programmes include:

1. Cost reduction, with a more aggressive look at outsourcing and consolidation of core operations
2. Driving top-line growth, with firms looking for innovative ways to both serve existing customers and attract new customer segments with the development of new products, new services, and penetration of new geographies
3. A push to complete core systems replacement initiatives begun when the financial crisis first hit
4. An increased focus on compliance driven by ongoing changes in international banking legislation.

Already operational, the Capco SA office is based in the heart of the Johannesburg financial district and is led by financial services consulting expert, Bruce Gordon.

“This is a great time to be joining the fastest-growing professional services firms operating in the financial services industry,” said Bruce Gordon, Capco Partner. “Capco clients appreciate the firm’s ability to field individuals with a tremendously rich understanding of industry issues and practical experience. They also value the ability to access industry-recognised thought leadership that addresses the challenges faced by financial institutions today.”

Commenting on the office opening, Peter Schurau, CEO of Capco Europe, added: “I am very excited at the addition of our new office in a significant financial services market. Our experienced team and now established local presence will enable us to effectively serve both local South African clients, as well as major institutions across Africa. Our local presence also positions us to collaborate more closely with our parent company FIS, as and when client needs dictate.”

About Capco

Capco, a global business and technology consultancy dedicated solely to the financial services industry. Our professionals combine innovative thinking with our unrivalled first-hand industry knowledge to offer our clients consulting expertise, complex technology and package integration, and managed services to move their organisations forward.

Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. We specialise in banking; capital markets; wealth and investment management; finance, risk & compliance; and technology. We serve our clients from offices in leading financial centres across North America, Europe, Asia and Africa. To learn more, visit our web site at capco.com and subscribe to Capco’s newsroom RSS feed.

Robert Akam, T: +44(0)20-7400-4480, E: rakam at hanovercomms.com; Joe Eldridge, T: +44(0)20-7400-4480, E: jeldridge at hanovercomms.com