Capco, the global provider of consulting and managed services to the financial services industry, today announced the expansion of its North American Capital Markets Group. The expansion is in response to significant service demand from investment banks, broker-dealers, exchanges, and clearing firms as they seek to reduce costs, shift to fee-based revenue models, mitigate trading risks, and achieve long-term, sustainable growth.
Further, competition is increasing between established and emerging trading venues as they vie for market share. Less than three years ago, only 25% of daily trade volume was handled by electronic trading platforms. This is expected to rise to over 60% by 2011. As trading volume and velocity increases, Capco is also seeing increased demand for its advanced data management solutions.
"In today's post-subprime crisis era, trading firms are re-evaluating their business strategies, cost structures and internal controls, and looking for more balanced business models," said Capco Partner Joe Anastasio. "During the boom market days, profits and gains were achievable based on huge risk bets that camouflaged inefficiencies in a firm's infrastructure and cost models. Now, with more pressure on trading margins, we're seeing a surge in demand to help companies identify new ways to cut costs, generate fee-based revenues and drive long-term, sustainable growth. As the leader in the financial services consulting space, Capco is uniquely qualified to help."
The Capital Markets Group is part of Capco's recently announced North America growth strategy to serve the needs of a broader range of clients. The Group's focus covers front, middle and back office activities across the complex trading environment which includes derivatives, fixed income, currencies, commodities, equities, futures, structured products, and credit default swap products. The Group also provides clients with consulting services and solutions in: Post-Merger Integration; Target Operating Model Design and Implementation; Technology Rationalization/Replatforming; and Trading Process/Controls Reviews.
"After the Stanford and Madoff scandals, process integrity has become Wall Street's new watch word," said Capco Partner Michael Haworth. "Increased regulatory scrutiny is transforming the financial markets and having a profound impact on firms' internal controls. Our clients want to achieve full transparency in their businesses and, therefore, need to address technology integration issues to ensure that their operational controls are robust. Additionally, they need to optimize their data management and governance to provide immediate access to data that meets required regulatory and compliance demands. This is Capco's strong suit."
With offices across North America, the Capital Markets Group leverages the skills of Capco's integrated, full-service team. Capco attracts the industry's top professionals who have an average of 16 years of first-hand industry and consulting experience in the capital markets.
Capco Partners Joe Anastasio and Michael Haworth -- financial industry experts who have served the world's leading trading houses and exchanges -- are co-leading the North American Capital Markets Group.
With three decades of experience, Mr. Anastasio joined Capco from J.P. Morgan where he was managing director of its North America Operations Group and a board member of J.P. Morgan Securities, Inc. During his career at Salomon Brothers, Mr. Anastasio served as the firm's Managing Director of Domestic and Global Operations. His new white paper, entitled "Critical Systemic Settlement Risk Imperatives in the Global Financial Markets," provides an in-depth examination of systemic risk in the aftermath of the 2008 financial crisis. Mr. Anastasio's analysis breaks new ground by offering a call to action to close the regulatory gaps between major buy-side institutions and the broker-dealer community.
Michael Haworth has over 25 years of experience in management and consulting to financial institutions; he joined Capco from CAST Management Consulting. Earlier in his career, he was managing director at KPMG Consulting in charge of its Banking and Investment Services practice and directed the firm's Capital Markets practice. Mr. Haworth is sought by the world's leading financial institutions for his expertise in strategic planning, systems integration, organizational design/effectiveness, operational enhancement, and large-scale project management.
Based on its heritage, Capco continues to differentiate itself through its service excellence and dedicated focus on the capital markets and financial services arenas.
About Capco
Capco is a leading global provider of integrated consulting, technology and transformation services 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 organizations forward. Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. In North America, we specialize in Banking; Capital Markets; Wealth and Investment Management; Finance, Risk & Compliance and Technology with offices in Chicago, D.C., New York, San Francisco and Toronto. To learn more, visit our Web site at www.capco.com.
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