WELCOME SecondGlobalEmployeeForum
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Dearcolleagues, Welcome to Bermuda, the center of our world for the coming two days. This is a great place to welcome all of you to our second Global Employee Forum. I am keen to share with you our visions and our plans. This is an unbelievable team. We have doubled in size, tripled our revenues, launched new offices in the US, Singapore, and around Europe and added many formidable clients. We are on an amazing journey. Each of us has made a significant contribution to the success of this organization. We are clearly focused on our Solutions, Ventures, Thought, and most importantly our People. These are the foundations of our future. Thank you for making the effort and sharing your personal time to be here with us. With your contribution and enthusiasm this is going to be the best meeting we have ever had. The true worth of Capco lies with you. We are going to have a great time. Many of you I know‌ I am sure we will have the opportunity to meet and catch-up. I look forward to spending the next few days with my favorite team. Rob
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Tableofcontents Welcome
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Don't miss your photo shoot
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Agenda
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Maps
12
Guest speakers
17
Breakouts
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Knowledge fair
26
Awards
32
Partners
34
The Capco Way
42
Bermuda
70
Practical Info
76
Notes
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Don’tmissyour photoshoot During our days together in Bermuda we are going to take pictures of those of you who have not had a professional photograph taken. This is to replace the temporary photographs taken in the local offices. Five professional photographers will be available at Atlantic Room C in the Southampton Princess Hotel. Dress code for the photograph: black, brown, gray, white or event shirt. Please stop by the CPC to set up a specific timeslot.
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ForumSchedule Thursday, October 26th
Friday, October 27th
11:00 – 19:00 Arrivals at the hotels
6:30 – 7:45
Check-in at the Capco registration desks
Breakfast The Greenhouse restaurant - Sonesta Beach
located in lobby of The Southampton
Resort. Window on the Sound and Wickets
Princess Hotel and Sonesta Beach Resort
restaurants - The Southampton Princess Hotel 7:00 – 7:45
19:00 – 20:00 Departing from hotels to
Depart for The Southampton Princess Beach Hotel
The Elbow Beach Bermuda
from Sonesta Beach Resort
Taxis leave from the front door of
Taxis will be available at the front door of
The Southampton Princess Hotel and
Sonesta Beach Resort
Sonesta Beach Resort
7:45 – 8:00 19:00 – 22:30 The Beginning
Find your places at the Plenum
Café Lido, The Elbow Beach Bermuda
Amphitheater, The Southampton Princess Hotel
• Dinner • Welcome
8:00 – 9:30
Rob Heyvaert – Chairman and CEO, The Capital Markets Company
• Opening • Special Guest • Address by the Chairman / Rob Heyvaert
22:30 – 23:30
Chairman and CEO, The Capital Markets Company
Taxis from the Elbow Beach to the hotels
• Vision of the future / Rob Heyvaert Chairman and CEO, The Capital Markets Company
• Introduction to the Knowledge Fair / Rob Heyvaert
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Chairman and CEO, The Capital Markets Company
9:30 – 11:00 The Knowledge Fair 14:00 – 14:45 Breakout session 1
Atlantic Room, The Southampton Princess Hotel
14:45 – 15:00 Find the guide for the next session 11:00
and walk to the venue
Find your places at the Plenum
15:00 – 15:45 Breakout session 2
Mid-ocean Amphitheater,
15:45 – 16:00 Find the guide for the next session
The Southampton Princess Hotel
and walk to the venue
11:10 – 11:25
16:00 – 16:45 Breakout session 3
Intellectual Asset Strategy
16:45 – 17:30 Return to hotels Taxis available at the venues to return
John Owen – Partner, The Capital Markets Company
to The Southampton Princess Hotel and 11:25 – 11:45
Sonesta Beach Resort
Introduction to the Afternoon Program
18:00
Rob Heyvaert – Chairman and CEO, The Capital Markets Company
19:00 - 20:OO Depart for evening entertainment
Last taxis leave from City Hall. Trolley buses leave from The Southampton
11:45 – 13:45
Princess Hotel to Waterlot Dock.
• Sail to Hamilton
20:00
• Lunch
Naval Dockyard & Maritime Museum
Trolley buses leave from The Southampton Princess
01:00
Hotel to Waterlot Dock.
Return to Hotels / Last taxis and boats leave for The Southampton Princess Hotel and Sonesta Beach Resort
13:45 Meet guides to walk to Breakout session locations.
Dinner, Cabaret and party / The Royal
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ForumSchedule Breakout sessions • Friday, October 27th Theme
Ventures / BSP Products
VaPs 1
VaPs 2
Future
Branding
Venue
City Hall Theatre
Harbour Room at N.1 Shed
N. 6 Shed
City Hall Art Gallery
The Little Theatre
Anglican Cathedral Hall
The City of Hamilton Session 1
Session 2
Session 3
Capco Ventures COBASS
Enabling STP
Building the e-Business
Current Capco Developments Branding in International Capital Markets
M. Akkermans
H. Ezzouaoui
J. Anastasio
S. Feffer
J. Schmitt
Still un-named.com
e-STP
Financial & Operational Performance Management
Implementing Future Industry New Operating Models Models
Capco Branding
P. Erseel
N. Pickering
D. McGann
T. Malaty
B. Schutte
N. Hahn
BSP Strategy
eFinance Portal Building Market Strategic Infrastructures Positioning in the e-Age
Scenario Thinking and e-Voyage Scenarios
Capco Branding
M. Hignett & C. Kelly
D. Bartoletti
A. Ward
N. Hahn
J. Schmitt
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M. Angus
N. Hahn
Saturday, October 28th 7:00
9:30 – 11:00
Sit down breakfast
The Capco way: Our Values and Operating Model
The Greenhouse restaurant, Sonesta Beach Resort
Rob Heyvaert – Chairman and CEO, The Capital Markets Company
Window on the Sound and Wickets restaurant, The Southampton Princess Hotel
Our People
7:30
Charlie Keeling – Partner,
Check-out from The Southampton Princess Hotel
The Capital Markets Company
Check-out from Sonesta Beach Resort
Seven Habits of Highly Effective People Roger Merrill – Franklin Covey Leadership Center
8:00 – 8:45 Departure from Sonesta Beach Resort to
Our Values
The Southampton Princess Hotel
Diederik Bostoen - Partner,
Taxis will be available at the front door of
The Capital Markets Company
Sonesta Beach Resort Introduction to the Afternoon Program 8:30 – 9:20
Rob Heyvaert – Chairman and CEO, The Capital Markets Company
Knowledge Fair and breakfast Atlantic Room, The Southampton Princess Hotel 9:20 Find your places at the Plenum
BREAKOUT SESSIONS
Mid-ocean Amphitheater,
The Southampton Princess Hotel
The Southampton Princess Hotel
11:15 – 12:00 Breakout session 4 12:00 – 12:15 Break/switch rooms 12:15 – 13:00 Breakout session 5
K N O W L E D G E FA I R Atlantic room 11:00 – 14:00 Knowledge Fair
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ForumSchedule Saturday, October 28th 13:00 – 14:00 Lunch Outdoors Great Sound Lawn, The Southampton Princess Hotel 14:00 – 15:00 Closing and Awards Rob Heyvaert – Chairman and CEO, The Capital Markets Company
Mid-ocean Amphitheater, The Southampton Princess Hotel 15:00 The End
DEPARTURES
Taxis leave for the Airport from The Southampton Princess Hotel
17:30 New York flight departs 19:00 Brussels flight departs
15:00 – 15:20 New York flight guests depart
20:50 London direct-flight departs
16:00 – 16:30 Brussels flight guests depart 18:30 – 19:00 London direct-flight guests depart
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Breakout sessions • Saturday, October 28th Theme
Branding
Building Effective Teams
Effective Personal Training
Consulting Skills
Capco Operating Models
Venue
King Edward Room
Queen Mary Room
Mid-ocean Amphitheatre
Atlantic Room C
Neptune Room
Capco Operating Models
The Southampton Princess Hotel Session 4
Session 5
Branding in the e-Age
Unity in Diversity
Work/Life balance
Client Relationship Management
N. Hahn
A. Richter
R. Merrill
P. Matthynssens L. Philippi
Branding in the e-Age
Unity in Diversity
Objective Setting
How to be a Capco Consultant
Capco Operating Models
N. Hahn
A. Richter
R. Merrill
J. Lodge
L. Philippi
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Bermuda
The Royal Naval Dockyard & Maritime Museum
Airport
Hamilton
Waterlot Dock
Elbow Beach Sonesta Beach Resort
The Southhampton Princess Hotel
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Par-La Ville Road
Wesley Street
The City of Hamilton
Victoria Street
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1/2
Parliament Street
5 4 Burnaby Street
Queen Street
Church Street
Reid Street
Front Street
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3
1
City Hall
3
Harbour Room
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The Little Theatre
2
Art Gallery City Hall
4
No. 6 Passenger Terminal
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Anglican Cathedral Hall
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The Southampton Princess Hotel
Bay Ferry to the Princess Hamilton
Waterfront Inn Hamilton St. George Middle Road
Somerset
King Rooms C
Gibbs Hill Lighthouse
B
Board Room
The Atlantic Rooms
A
Neptune Lounge
Rib Room & Golf Club Cycle Shop
Lobby Lounge
Fitness par Course Pool
Turtle Hill Tennis Courts
Golf Course Hotel Entrance
South Shore Road
Lake
Windows on the Sound
Hamilton St. George
Shuttle Bus
Tunnel Somerset Dolphin Quest
Newport Room
Main Entrance
Admin. Offices
Beach Club & Tennis Courts
Bank Path to Cycle Shop & Tennis
Whaler Inn
Lobby Level 14
The Southampton Princess Hotel To Rib Room & Golf Club
Conference Rooms
Indoor Pool
Wine Cellar Health Club
Outdoor Pool
Shops
Restaurants Reservation Desk
Shopping Arcade Somerset Room
Shops
Mid-Ocean Ampitheatre
Conference Rooms
Lower Lobby Level
Lower Lobby Level 15
Sonesta Beach Resort Bermuda
The Ballroom
West
East
Hamilton Room
A
B
C
Pre Assembly Ballroom Pre Assembly
Somerset Room Board Room
Palm Court (outdoor)
North
South
Upper Level
Lower Level 16
GuestSpeakers A. ROGER MERRILL Roger Merrill is a vice-president and co-founder of the Covey Leadership Center, now Franklin Covey Company. Merrill has more than 30 years of experience as a line manager, senior executive, business consultant and family leadership consultant. An authority on organizational behavior and adult learning, his expertise in life leadership has led prominent companies and individuals to discover powerful principles that have proven to increase productivity, balance, and self-leadership skills in everyone, regardless of their current role. www.franklincovey.com
B. ALAN RICHTER Alan Richter is a partner in QED Consulting. He provides strategic consulting services in the human resource development and change management areas, and has designed and developed innovative curricula for corporations and organizations. He has also designed pioneering instructional products in the areas of leadership, business ethics, workforce diversity, globalization, marketing, technology and corporate communications. He created The Diversity Game, an award winning training tool, and The Global Diversity Game and The Change Cycle Game. Dr. Richter has an M.A. and a B.A.B.Sc. from the University of Cape Town, and a Ph.D. in Philosophy from Birkbeck College, London University. www.qedconsulting.com
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BreakoutSessions Friday, October 27th
THEME
VENTURES / BSP
1 Capco Ventures
Capco Ventures is the final piece in Capco’s innovative strategy model. This session will
(M. Akkermans)
discuss why Capco Ventures was established and how it can be incorporated and best utilized within a fully operational global solutions provider.
2 Still
The value proposition of this dot-com is to provide the Capital Markets community with
un-named.com
a simple, accurate, reliable, cost-effective and collaborative industry repository for refe-
( P. Erseel)
rence data which can scale to become the definitive, global reference source, which many industry participants have identified as a requirement. This proposition is based on a solid business premise using the software product e-STP, an Intellectual Asset owned by The Capital Markets Company. This dot-com has multiple potential customers positioning to be its first operational participant.
3 BSP Strategy
Business Service Provider is a new and cost effective manner for organizations to manage
(M. Hignett &
their businesses within today’s highly competitive environment. These organizations will
C. Kelly)
be able to focus purely on their core competencies and outsource those areas of their business that are ancillary. The difference from a traditional outsourcing model will be the integration of professional services throughout.
THEME
PRODUCTS
1 COBASS
In a fast changing market place, the flexibility and scalability of business services is a key
(H. Ezzouaoui)
competitive factor. Capco developed COBASS, a specialized set of component based software solutions beginning in the CSD marketplace. It is designed to help financial services institutions in their clearing and settlement efforts, and cope with market changes in a time-effective manner.
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Breakout sessions • Friday, October 27th 2 e-STP
e-STP is a data analysis, cleansing, and discovery tool, used by major financial institu-
(N. Pickering)
tions to manage multiple sources of inconsistent information. e-STP assists in the evolution of a firm's data processing architecture to support straight-through processing (STP) by automating many of the time-consuming and error prone tasks involved in creating clean, consistent, and usable reference data and trade information. Capco’s clients are using e-STP to manage reference instrument data and client information. In this presentation we will provide an overview of the history of e-STP, its current uses, the product plan for moving forward, and demonstrate key product features.
3 eFinance Portal
The eFinance Portal is part of the Capco’s broad product offerings for the financial servi-
(D. Bartoletti)
ces industry. Based on leading application server and user personalization tools, eFinance Portal provides a rich set of reusable components tailored to different aspects of display, control, and distribution of financial information. The eFinance Portal framework provides a common foundation on which to build specialized solutions. Hear how Capco is developing client-driven solutions in the financial portal space and how you can sell these solutions to your clients.
THEME
VaPs 1
1 Enabling STP
Straight Through Processing (STP) will allow for a seamless process of trade execution
(J. Anastasio)
and settlement. At its core, STP will reduce inefficiencies inherent within the current, largely paper-based system, shorten settlement cycles, and achieve T+1 or even T+0. STP may also serve as a base of solutions needed by the entire global marketplace. Joe Anastasio will highlight the major benefits of STP and discuss how Capco is helping the financial services industry achieve this objective.
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Breakout
Friday, October 27th 2 Financial &
Current measurement of financial and operational performance leaves much to be desi-
Operational
red. Typically, they are focused on either too narrow or too wide an area to be effective in
Performance
answering the questions that need to be answered. CAPS is an innovative analytical tool
Management
that will help the industry in achieving more reliable and uniform methods of evaluating
(D. McGann)
performance with efficacy.
3 Building Market
Capco is helping the industry design and build the new market infrastructure needed for
Infrastructures
exchanges, CSDs, payments and settlement mechanisms to cope with the New Economy.
(J. Schmitt)
The new infrastructure must achieve the fine balance between flexibility and rigidity, to cope with rapid market changes, but not weaken in the face of those changes. This session will highlight how Capco aims to help build these new market infrastructures.
THEME
VaPs 2
1 Building the
“e� is the buzzword within today’s financial markets. Almost everyone wants to be in the
e-Business
e-business. But what is e-business? How can you become an e-business and what does it
(S. Feffer)
take to succeed within this environment? Capco has been helping companies change their business infrastructure to become truly effective and efficient e-businesses.
2 Implementing
Business positioning in the new economy requires paying attention to market intelli-
New Operating
gence, performance metrics, and visions of the future of the industry. To achieve success
Models
Capco proposes developing new, flexible, customer-centric architectures for global opera-
( T. Malaty)
tions and leverage. The implementation of this strategy will be achieved through outsourcing and in-sourcing solutions.
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tSessions
Breakout sessions • Friday, October 27th
3 Strategic
Traditional strategies are no longer enough. The strategies that financial organizations
Positioning in the
need to implement in order to achieve competitive advantage can be viewed both from a
e-Age (M. Angus)
divisional perspective as well as a corporate-wide perspective. Most importantly, these needs encompass a wider scope of competitors and the global marketplace. This session will highlight how Capco can help financial institutions implement strategies to prosper within the world of e-finance.
THEME
FUTURE
1 Current
Today’s capital market participants are undergoing dramatic transformations and are fin-
Developments in
ding themselves in situations where they have to protect themselves from competition
International Capital
from every side and every arena. This session will describe what this future will look like
Markets
and how market participants should take steps to prepare themselves for this new world
(J. Schmitt)
order.
2 Future Industry
What does the future landscape of the financial services industry look like? Who will
Models (B. Schutte)
survive in this world? What tools do you need to prosper? Bart Schutte will give views on the future industry models and highlight the characteristics of future global leaders.
3 Scenario Thinking
The e-voyage gave Capco a great opportunity to explore how leading figures from the
and e-Voyage
financial services industry would respond to four hypothetical, yet viable, worlds of the
Scenarios
future. How would you react within these worlds and how does that compare to the lea-
(A. Ward)
ding thinkers in the industry?
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Friday, Octobre 27th THEME
BRANDING
1 Capco Branding
Branding in the financial services industry can be very different to marketing a tangible
(N. Hahn)
product made by a manufacturing company. These intangible services are backed by nothing more than intellectual capital. Differentiating one’s intellectual capital from another is, therefore, much more difficult. That is the challenge faced by Capco today.
2 Capco Branding
See above
(N. Hahn) 3 Capco Branding
See above
(N. Hahn)
Saturday, October 28th THEME
BRANDING
4 Branding in the
Capco has been helping its clients prepare for the e-revolution and it is now our turn to
e-Age (N. Hahn)
prepare for that inevitability. How do other companies brand their products on the web and how does Capco feel it should use the Internet to differentiate its services?
5 Branding in the
See above
e-Age (N. Hahn)
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BreakoutSessions Breakout sessions • Saturday, October 28th
THEME
BUILDING EFFECTIVE TEAMS
4 Unity in Diversity
For many organizations managing multiple cultures is extremely daunting. Not for
(A. Richter)
Capco. Capco thrives on its diversity and nurtures everyone’s differences. Using the Audience Response technology within a quiz format, we will explore the ways in which Capco's core values - Respect, Commitment and Integrity - play out in real work and team situations. We will also explore the meaning of culture and a framework for crosscultural effectiveness that supports Capco’s philosophy of Unity in Diversity.
5 Unity in Diversity
See above
(A. Richter)
THEME
EFFECTIVE PERSONAL TRAINING
4 Work/life balance
Long hours on the train, overnight flights, and many sleepless nights meeting that project
(R. Merrill)
deadline. How am I to have a life of my own? The expert in this field, Roger Merrill, will guide you through an eight-step path towards an effective work/family balance. The eight paths that will be discussed are: examine your center, live for something higher than self, build trust, love your work, create joy at home, increase efficiency and effectiveness, generate energy and creativity, nurture wisdom and judgement.
5 Objective Setting
How do I advance? How do I move towards the top? Are these realistic objectives?
(R. Merrill)
Understanding and setting realistic objectives is the best way to achieve these goals. Roger Merrill will help you set realistic targets and show you how successful managers have been able to achieve their objectives. This will be achieved through a six-step process: connect to mission, review roles, identify goals, organize the week, exercise integrity and evaluate.
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BreakoutSessions Saturday, October 28th
THEME
C O N S U LT I N G S K I L L S
4 Client
Our goal is to earn the right to have a relationship with the client, and we know it is our
Relationship
responsibility to earn that right. Our courtship of our clients creates 'sell situations' with
Management
a team ethos. We listen. And when asked to restate what we've been told, we get it right,
( P. Matthynssens)
absolutely right, and follow with questions that show strategic instincts about how to make our clients’ business grow. Respect, trust and confidence follow naturally.
5 How to be a
It is not good enough just to be a consultant. You need to differentiate yourself from the
Capco Consultant
rest. In this session, Jim Lodge will describe how you can become a successful consultant
(J. Lodge)
and obtain the coveted prize of being a Capco consultant.
THEME
C A P C O O P E R AT I N G M O D E L S
4 Capco Operating
Capco’s current operating objective is to maintain our global approach, maintain our
Models (L. Philippi)
focus on clients, define clear responsibilities and accountability for each dimension of the operating model and apply our integrated model. This session will describe how these objectives are met within a single model.
5 Capco Operating
See above.
Models (L. Philippi)
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KnowledgeFair
Questions about the Communities Knowledge Fair? Stop by the Knowledge Fair Administration Booth!
TOUGHT 1 ASSET MANAGEMENT Due to the increasing complexity of financial products and the globalization of markets and the increasing needs of private savings (private banking, pension funds, etc.), Asset Management is experiencing an expansion that transforms organizations and finance managers' jobs. Capco's Asset Management community aims to take up this challenge.
2 T H E PAY M E N T S COMMUNITY Value transfer in the 'e' age is getting hot, with legacy systems competing with legacy systems, and new service providers responding to market needs. The Payments Community provides insight into the marketplace and a point of view where Capco has the expertise to respond to the recurring opportunities.
3 FUTURE INDUSTRY MODEL The Future Industry Model captures Capco's thinking about where the industry is going, what the challenges are for our
clients, and where the opportunities are for ourselves. It's a living, evolving perspective. Come see what it's about, join the community, and help shape the future.
6 KNOWLEDGE MANAGEMENT AND RESEARCH
4 e - V O YA G E : N AV I G AT I N G THE FUTURE OF FINANCE
7 e-BRIEFING
The financial services industry is going through a sea change. Some institutions will drown in the maelstrom, while a few will seize the new economy's opportunities and prosper. How would you navigate the turbulent waters? On the e-Voyage Capco explored the insights of leading figures in the financial services industry to four hypothetical, yet viable, scenarios of the future. Come and see how we are inventing the future.
5 THE CAPCO BRAND Understand more deeply the thinking behind the evolved Capco brand, and the marketing plan that will spread the news. This booth will cover situation assessment, brand proposition, brand identity, marketing plan, and market research.
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At this booth you will learn more about the exciting initiatives going on within Knowledge Management and Research.
Stop by the e-Briefing booth to find out how we put it together everyday and how you can contribute!
8 GLOBAL CUSTODY IN A N E V O LV I N G M A R K E T P L A C E Come visit the Custody community - a group of dedicated custody professionals with in-depth knowledge of domestic and global custody, eager to share our thoughts with our Capco colleagues. There is so much changing and so many opportunities for Capco!
9 I-SEC ( I N F O R M AT I O N S E C U R I T Y ) COMMUNITY The I-SEC community is Capco's knowledge center for all information security matters. The community shares its knowledge between people interested in Information Security. All Capco technology oriented projects
KnowledgeFair around the world, potentially have an Information Security aspect and hence can be supported by the I-SEC Community. This is the key idea behind the I-SEC Community.
10 CWC CAPCO WIRELESS COMMUNITY The Capco Wireless Community was established to share and communicate knowledge in the area of Wireless technologies.
SOLUTIONS 1 1 S O F T WA R E FA C T O R Y The Software Factory is the community that deals with the development and management of Capco's Software Products.
1 4 A P P L I C AT I O N ARCHITECTURES
17 BUILDING THE e-BUSINESS VaP
The knowledge community on Application Architectures tries to provide reference models of the common business applications/packages in different business domains and their respective technical architectures. To this extent, different business domains like Risk Management, Order Management, etc. are analyzed regarding their business requirements together with various systems available in the market that try to provide solutions to the financial industry in these domains. Common architectures (business and technical) are developed within the knowledge community based on the analyzed systems and the requirements identified for each business domain.
Building the e-business; explaining why we have the capability, methodologies and experience to take our clients from strategy through to implementation.
12 SOLUTION CENTER A presentation of the outline Solution Center methodology and our initial successes.
13 MARKET INFRASTRUCTURE Capco solutions for Exchanges, ECNs, ATSs, Central Counterparties, CSDs and ICSDs. This covers the Trading Mechanism BSP, Infrastructure VAP and the Exchange Knowledge Community.
15 ALLIANCES At the Alliances booth our key partnerships - with FTI, Sun Microsystems, BEA, SWIFT and Algorithmics - will be highlighted.
16 SDF COMMUNITY The Solution Delivery Framework (SDF) outlines Capco's model for the delivery of high value solutions to the industry. The SDF Community brings people together who build Capco's core methodologies.
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1 8 E S TA B L I S H An overview of the rapid establishment of new business ventures comprising the Visioning strategic concept, Ignite - business scoping and Establishment build project phases.
19 TECHNOLOGY MARKETING COMMUNITY Bringing together people and resources to use in selling implementation to our clients. Explaining our background and why we are the right choice for implementation.
20 CAPS CAPS - Costing and Profitability Analysis System. An approach and tool for enabling securities and investment firms to better understand their costs, profits and operating performance.
KnowledgeFair 21 BUSINESS CONTROL The expansion of Capco's offerings across the trade processing chain, covering risk measurement, operations risk and product control.
22 BUILDING THE ROAD TO STP/T+1 As a means of decreasing risk, improving liquidity and processing efficiency, the US has undertaken the initiative to shorten the trade settlement cycle from T+3 to T+1. The implications of this initiative are sweeping. Every player in the Financial Services arena will be impacted. Every process must be reviewed and potentially modified to ensure efficiency, accuracy and minimal manual intervention. With the expected implementation date of June 2004 the industry has an arduous BUT fulfilling journey ahead of it.
2 3 S T R AT E G I C POSITIONING IN THE eAGE The strategic tools that Capco needs to help our clients to navigate through the new economy.
2 4 N E W O P E R AT I N G MODEL COMMUNITY The primary objective is to build our intellectual assets to support our sales and delivery effort rela-
ted to the VAP for Implementing New Operating Models. This objective will be achieved by building a community of experts and people who have a keen interest in learning and contributing to Capco's exciting BSP ventures.
PEOPLE 25 CHANGE MANAGEMENT KNOWLEDGE COMMUNITY Tools and techniques to help manage change on Capco projects. Come and visit our booth to see real life case studies, understand how to use the tools to manage through change initiatives and where to find ready made templates you can use on projects.
26 INTERNAL TECHNOLOGIES The Internal Technologies booth will present some of Capco's new internal technology offerings. Check out our VPN (a facility that allows a user to access our corporate services via the Internet in a secure, encrypted environment). We will also present our new Help Desk issue tracking and reporting system (ITRS) and process.
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27 PEOPLE EXCHANGE AND eSERVICES (NOVIENT) Find out how the new People management and Time Tracking system will impact your way of working.
2 8 C O A C H I N G AT C A P C O The coaching booth will enable all employees to understand the roles and responsibilities of the coach. Human Resources representatives will be there to answer any questions about the new program and collect ideas for improving the current program.
29 INSTITUTE TRAINING An overview of all the courses offered by the Institute – orientation, professional skills, business specific courses and software. You will be able to find out all the dates of the forthcoming courses for the rest of this year and next, the synopsis, target audience, and approvals required.
30 FRANKLIN COVEY EFFECTIVENESS TRAINING Come and learn about the Franklin Covey Company - the premier personal and organizational effectiveness firm in the world. Sign up for 'The 7 Habits of Highly Effective People' and 'What Matters Most', two of the workshops to be launched at Capco next year.
KnowledgeFair N E W C A P C O L O C AT I O N S 31 SINGAPORE Find out all about Capco's launch in Asia.
32 SAN FRANCISCO Stop by the San Francisco office booth to catch up on business and get to know Capco's San Francisco people.
Capco moments here in Mainhattan and display a poster with pictures of all employees. This will give you an insight into Capco in Frankfurt, Germany.
VENTURES 36 CAPCO VENTURES
3 3 PA R I S I M A G E , I M A G E S O F PA R I S Paris as you thought it was, and Paris as it really is.
34 SASHA, ABU DHABI Capco is managing the Implementation phase of a program to provide an end-to-end STP and T+1 ready enterprise architecture supporting the complete investment-cycle across international capital markets. We are working against the most diverse array of cultures, traditions and values ever seen in a single location. Come find out what's going on in Capco's Abu Dhabi office.
3 5 T H E F R A N K F U R T WAY Frankfurt will present the local Team, the Office and current projects in a humorous slideshow. Additionally, we will show a short video reflecting our
Visit the Capco Ventures booth to learn about our vision and progress, how to get involved, and contribute your hot investment ideas.
37 STILL UNNAMED.COM The value proposition of this dot-com is to provide the Capital Markets community with a simple, accurate, reliable, costeffective and collaborative industry repository for reference data which can scale to become the definitive, global reference source, which many industry participants have identified as a requirement. This proposition is based on a solid business premise using the software product e-STP, an Intellectual Asset owned by The Capital Markets Company. This dot-com has multiple potential customers positioning to be its first operational participant.
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Awards ➧ Which Knowledge Fair booth taught you the most
Thoughts, Solutions, People and Ventures are what define us.
about a particular area of development in the past year?
This year we want to acknowledge the teams that have excelled in sharing Thought, in developing
S O L U T I O N S AWA R D
Solutions and in exemplifying values for our People.
From web-development to leading edge strategies,
T H O U G H T AWA R D
Capco solutions past, present and future are built on mastering emerging technologies and evolving busi-
Capco continuously researches and shares what it
ness needs quickly to maximize client value in each
takes for businesses to succeed in the future financial
engagement. Our approach leverages the advantages
services industry. We are committed to sharing what
of solutions from vendors as well as our proprietary
we learn with executives, researchers, thought leaders
solutions by coupling them with thought leadership
and project teams to help foster discussions that con-
to meet broadly varying client needs.
tribute to defining the future of the industry. White ➧ Which team has come up with the most innovative
papers, the Capco journal, roundtables, industry events, and our intranet are all examples of our
idea/solution/venture idea/concept in the last year’s
thought leadership at work. The Knowledge Fair at
GEF?
the GEF brings to you the latest and greatest of our thought contribution.
32
Awards
P E O P L E AWA R D The values, skills, talent and passion that we share are
THE NOMINEES ARE‌ YOUR VOTES PLEASE
what drives Capco. Based on it we are quickly developing into a world-class company. Our people strive to do great work, excel at building teams and have signi-
All Capco staff will vote in
ficant impact on our clients. Each new member helps
the final plenary session.
our culture evolve.
Three nominees will be presented for your final
➧ Which team do you believe most exemplifies the
vote. The best team in each
values that Capco holds dear: Respect, Integrity and
category wins the Capco
Commitment ?
award!
33
Partners Michel Akkermans
■
Antwerp
David Bartoletti
■
New York
Michel Akkermans focuses on e-commerce business
David Bartoletti leads technology component develop-
strategy and finance ventures. Michel founded FICS,
ment for financial web portals, online portfolio
a leading software provider for online banking and
management, middleware and real-time market data
financial reporting. He became Chairman of the S1
systems. A co-founder of Entropae, he previously held
Corporation, the result of the merger between
leadership positions at Fidelity Investments and
Security First Technologies and FICS.
TIBCO Financial.
Joe Anastasio
Dai Bedford
■
New York
■
London
Joe Anastasio leads client relationships and our STP
Dai Bedford focuses on the firm’s client relationships
and operational efficiency expertise. He is a leading
and e-commerce business development. He was most
thinker affiliated with SIA, the NYSE, the New York
recently Vice President at Bossard Consultants/Gemi-
Clearing House and Euroclear. Previously, he was
ni Consulting, responsible for the Utilities sector and
with J.P. Morgan and Salomon Brothers.
development of retail e-businesses.
Michael Angus
Eric Bohner
■
New York
■
Antwerp
Michael Angus focuses on e-commerce strategy and
Eric Bohner leads client relationships from our
client relationships. He has a distinguished track
Antwerp office in e-business, risk and operational
record of leadership in developing e-commerce strate-
solutions implementation. He has extensive experien-
gy and operational transformation programs.
ce in IT, sales and operations. Prior to this, he held
Previously with Gemini Consulting, Michael directed
positions at EDS and IBM.
its e-commerce strategy discipline in the Americas.
34
Pascal Boillat
■
New York
Lim Choo Peng
■
Singapore
Pascal Boillat focuses on operational efficiencies for
Lim Choo Peng focuses on client relationships in the
global clients, including major US money center
East Asian and Pacific markets. He joined the compa-
banks and large clearing settlement organizations.
ny from the Singapore Stock Exchange (SES), where
Previously with KPMG he was one of the leaders of
he was President & CEO. Under his leadership the
their GSTPA initiatives.
SES became the first stock exchange in Asia to implement a fully computerized trading system without a
Diederik Bostoen
■
trading floor.
Antwerp
Diederik Bostoen leads internal communications and investor relations. He has extensive experience in
Wilson Davis
business development and in corporate and invest-
Wilson Davis leads the delivery of markets operations
ment banking. Formerly, he was with Bank Degroof
projects for banking and securities clients worldwide.
and Generale Bank/Fortis.
He combines consulting experience from Pricewater-
■
New York
houseCoopers with banking expertise from Southeast Michael Busch
■
Banking Corporation (First Union).
New York
Michael focuses on Capco’s venture activity and on building e-businesses. He joined from McKinsey &
Erwin De Keyzer
Company, where in a distinguished career he was one
Erwin De Keyzer leads excellence in delivery, inclu-
of the founding partners of their business technology
ding quality assurance, project tracking and process
office helping venture capital firms launch start-ups.
improvement. Through his tenure at Euroclear, he
■
Antwerp
had extensive experience in information technology and market infrastructure solutions.
35
Partners Jacques Delaere
■
Zaventem
Stuart Feffer
■
New York
Jacques Delaere leads the development of e-finance
Stuart Feffer leads technology initiatives for
business models and technology. As former Chairman
broker/dealer and investment banking clients, specia-
and CEO of Scorpio, he was a pioneer in web portal
lizing in technology strategy, systems architecture and
design for retail banking and e-brokerage. Prior to
the development of Internet solutions. Prior to this,
that, he was with IBM.
he was with Deloitte Consulting.
Pascale Erseel
Richard Focken
■
London
■
Frankfurt
Pascale Erseel leads value-based consulting work. She
Richard Focken leads client engagements from our
plays a driving role in global account planning and
Frankfurt office. His expertise includes EAI, middle-
the development of future e-business models. She has
ware, and the development of e-business infrastructu-
held leadership positions at both A.T. Kearney and
res for financial institutions and exchanges. He was
J.P. Morgan.
formerly with TIBCO Finance Technology.
Farzine Fazel
■
Paris
Philip Ghekiere
■
Antwerp
Farzine Fazel leads client assignments from our Paris
Philip Ghekiere leads worldwide M&A and capital
office, with a focus on front office and asset manage-
market transactions. He has extensive experience in
ment systems internationally. Previously, he led capi-
corporate finance, capital markets, M&A and venture
tal markets assignments with Resources Informatiques
capital. He was previously with the law firm of Loeff
Bancaires and Wang.
Claeys Verbeke.
36
Martha Goss
■
New York
Nick Hahn
■
New York
Martha Goss is the firm’s Chief Financial Officer. She
Nick Hahn leads the firm’s branding and marketing
has extensive expertise in global financial operations
function, based on his extensive experience in brand
and restructuring financial infrastructures. Formerly,
development and global marketing strategy. Formerly,
she was the CFO of Booz, Allen & Hamilton after
he was with The Coca-Cola Company, Johnson &
careers at Prudential Insurance and Chase.
Johnson and Saatchi & Saatchi.
Devin Granback
Chris Harvey
■
San Francisco
■
London
Devin Granback focuses on e-business ventures and
Chris Harvey focuses on e-business strategy projects
investment management. He joined from Thomas
and global client relationships. Previously at Gemini
Weisel Partners where he was a Vice President in the
Consulting, he was Global Head of their Transaction
Private Equity Group, and as such was one of the key
Banking Business unit, accountable for key client
members involved in the closing of TWP’s investment
relationships across all banking sectors.
in Capco. Rob Heyvaert Wilfried Grommen
■
■
Antwerp
Rob Heyvaert is Chairman and CEO of The Capital
Antwerp
Wilfried Grommen is one of our chief technologists,
Markets Company. Previously, he was founding CEO
with expertise in electronic markets, clearing &
and President of Cimad Consultants, and later at IBM,
settlement, custody, and trade and risk management.
General Manager, Securities and Capital Markets
Previously, he served as Industry Services Executive
Global Solutions.
for Securities and Capital Markets for IBM Region West.
37
Partners Marilyn Hignett
■
New York
Tony Malaty
■
London
Marilyn Hignett focuses on managing and coordina-
Tony Malaty leads the delivery of large client projects,
ting large-scale e-business technology projects.
and oversaw the firm’s Solution Delivery Framework
Previously a Partner at PricewaterhouseCoopers LLP,
development. He specializes in operational and tech-
she was responsible for coordinating the firm’s T+1
nology strategies to build BSPs. Previously, he was
efforts. Marilyn managed the development of the SIA’s
with Andersen Consulting.
interactive website in the Y2K testing process. Ed Marcil Charlie Keeling
■
■
New York
Ed Marcil focuses on the firms Merger and
London
Charlie Keeling leads the human capital dimension of
Acquisition activities. Prior to Capco, Ed worked with
our firm, focusing on attracting, developing,
IBM where he served in multiple finance and opera-
deploying, motivating and retaining the best talent.
tional positions. For the last 15 years he was involved
His experience includes both consulting and manage-
in IBM’s Corporate M&A activities.
rial positions with PricewaterhouseCoopers. Geof Master Chris Kundro
■
■
New York
Geof is General Counsel, maintaining global responsi-
New York
Chris Kundro leads business and operational strategy
bility for legal affairs. Previously of EDS, he suppor-
projects. He has extensive experience in consulting to
ted the development and implementation of their
both institutional and retail organizations. Previously,
global business transaction strategy. Before this he
he held positions with Deloitte Consulting, First
was a Partner at McGinnis, Lochbridge & Kilgore.
Union, Bankers Trust and Salomon Brothers.
38
Pedro Matthynssens
■
Antwerp
Jef Peeters
■
New York
Pedro Matthynssens leads global client projects in
Jef Peeters leads strategy, business development pro-
Europe. He has extensive experience in consulting,
jects and executive operations. His previous experien-
technology and program management, as well as in
ce includes strategy consulting at Coopers & Lybrand
developing total solutions for STP. He has held
and executive roles in strategy, business development
leadership positions at Ernst & Young and IBM.
and marketing at The Coca-Cola Company.
David Myers
Luc Philippi
■
London
■
New York
David Myers focuses on global trading solutions.
Luc Philippi leads the delivery of large client projects
An expert in trading and clearing systems for the
and the development of program management, inclu-
capital markets industry, David has extensive expe-
ding delivery standards for the firm. He has held
rience managing and delivering global initiatives.
senior positions in delivery and client relationship
Previously David was with Andersen Consulting.
management at IBM.
John Owen
Deborah Philips
■
London
■
New York
John Owen leads the company’s intellectual asset
Deborah Phillips leads the human capital dimension
development. His expertise is focused on operational
for the firm in North America. Previously with
efficiency, risk management and e-business solutions.
Bankers Trust, she developed and implemented strate-
Prior to this, he held leadership positions at Bankers
gic HR plans. Prior to that she was with Booz, Allen
Trust, IBM and UBS.
and Hamilton.
39
Partners Roger Preece
■
London
Jos Schmitt
■
Antwerp
Roger Preece leads The Capital Markets Institute, spe-
Jos Schmitt leads our thinking on market infrastruc-
cializing in knowledge management, thought leader-
ture and applying Internet technology to trading,
ship and e-business models. Prior to Capco, he wor-
clearing and settlement solutions. He led Belfox, the
ked with Sumitomo Finance, Bank of America and
Belgian Future and Options Exchange and Clearing
Andersen Consulting.
House. He was formerly with Andersen Consulting.
Mark Reece
Bart Schutte
■
London
■
Paris
Mark Reece focuses on building our technology capa-
Bart Schutte leads development of e-business solu-
bility, with a strong expertise in emerging technolo-
tions and strategies. His expertise is in e-solution
gies, particularly Internet-related technologies, gained
business models and infrastructures, and component-
through leading strategy projects with telecommuni-
based delivery. Previously, he was at Andersen
cations and media companies. Previously Mark was
Consulting.
with Andersen Consulting. Andy Stewart Paul Reyniers
■
■
London
Andy Stewart focuses on the design and delivery of
London
Paul Reyniers leads strategy development for clients
large and complex client engagements specifically
globally and directs the firm’s interface with global
designed to manage clients’ needs and expectations in
accounts. He has extensive financial services industry
the e-Age. Previously Andy was Vice President and
experience, having led industry practices at A.T.
Head of Financial Services at Gemini Consulting.
Kearney, Coopers & Lybrand and Price Waterhouse.
40
Gilbert Swinkels
■
Antwerp
Danny Vogt
■
London
Gilbert Swinkels leads client delivery projects with a
Danny Vogt leads strategic change and complex
focus on web portal technology and enterprise appli-
programs in the investment banking sector. He has
cation integration. He joined the company from
extensive experience in reengineering securities
Euroclear where he was Managing Director for
settlement operations. Previously Integration Manager
Internet & e-commerce.
at Warburg Dillon Read, he was responsible for cash management.
Kurt Vandenberg
■
New York
Kurt Vandenberg leads the development of the firm’s
Karen Wendel
component architecture. At TIBCO Financial Systems
Karen Wendel leads the firm’s thinking on e-payments
and as co-founder of Entropae, he led technical archi-
and e-finance, with expertise in cash management,
tecture for e-banking and brokerage, middleware and
trade finance, and electronic payments. She has
market infrastructure.
extensive experience in the financial services industry,
■
San Francisco
previously with Gemini Consulting. Lieven Van den Brande
■
Singapore
Lieven Van den Brande leads projects in market operations solutions in Asia and developing markets. He has strong expertise in developing web-based software solutions for trading, clearing, settlement and custody activities. He was previously with IBM.
41
TheCapcoway
42
TheCapcoway
INTRODUCTION From its inception at the wake of the 21st century, Capco has had the ambition to be a different kind of company. As the world’s economy is being revolutionized, so are business models. We know, because our mission is to be a future founder. One element of being different is having an operating model that not only supports change but is change. In the past, companies have been compelled to structure themselves to deal with day to day realities. Unfortunately, rigid structures, while assisting with clear lines of organization, often inhibit change. Therefore, our eternal quest will be to provide enough context for Capco not to slide into chaos, while maintaining the agility needed to be a leader in the new economy. The concepts explained in this document aim at doing exactly that. They explain the framework of Capco, a framework that allows each of us to understand at any given time what is expected of us. They also give us the flexibility to continue to expand our approach to serving our markets. Our operating model has a strong emphasis on accommodating the 21st century work force. A work force built on entrepreneurial ambitions and independence. To realize its dreams, Capco has to be a great place to work, a place that attracts that 21st century work force. People, as diverse in background and ambition, as our clients are diverse in their needs. Together we can build such a place.
43
TheCapcoway ORGANIZATIONAL PRINCIPLES
A G L O B A L O R G A N I Z AT I O N What: Capco is an organization that functions as one big office, serving the world. All people may work on all projects; all objectives are common objectives; all processes are shared and run as one; information is shared as appropriate, not restricted by physical location. Why: •The world is changing. Our clients are becoming increasingly global and as their advisors we need to be on the leading edge of organizational flexibility •When trying to find the ideal mapping of project needs to individual objectives, the larger the population and the larger the number of projects, the greater the opportunities for success •When clients like working with a team in one location, they will want to continue with the same team in the next location •In competing with large organizations we need to show access to all of our people, not only those in one location •We don’t want to inhibit our own success by having to worry about which country/region wins the deal, executes the deal, gets the revenue. Or worse, by having to deal with margin uplifts in cross regional billing •We want to ensure that each of us has the opportunity to achieve our individual goals and gain the experience and exposure for our future success How: •There are no regional or country level objectives for P/L, revenue, etc. As will be explained below, there are essentially two levels of hard objectives: a global objective and a set of individual objectives.
44
TheCapcoway
•There is no ‘Mr. Country’; one person does not run a country Global processes, monitored by local leadership teams govern most of what goes on in a specific location. An example of local leadership team is the format most countries use to discuss staffing and hiring on a weekly basis. This is described later in this document as People Steering Committee. •Market Place leadership teams A company cannot function without local leadership. If we look at our marketplaces today, a natural leadership has developed, and often one or two people per marketplace are seen as the leader(s). While the company is being run globally through the structure explained later in this document, marketplace leaders make sure things happen locally. While the global structures allow us to run the company on a global level, the marketplace leadership teams are the glue between all the different aspects of our business for a given market place. Such a team has the maturity to recognize marketplace specific trends that involve multiple dimensions of the global model and take action or advise the global structure on actions as appropriate. •Our tools and systems are global tools and systems This ranges from our laptops and networks over Outlook and K-World, to operational systems such as Peoplesoft and Novient (People Exchange). •Our teams are global teams When we staff projects, the skills and experience of an individual are at least as important as his or her location. More and more client engagements require activity in multiple locations. For this we create virtual teams with members often working in their home location. •Many meetings are global meetings The only operational meeting Capco has is the weekly COM meeting. This is a global conference call. We have global Leadership Team Meetings (LTM’s), global Partner meetings, a Global Employee Forum (GEF) and global Black Teams.
45
TheCapcoway Reality Check: •How long before we reach a size that forces us to manage regions and countries? Having 40 people with an individual revenue objective is probably still manageable on a global basis, having 400 may force us to cluster revenue objectives and have people responsible for such a cluster. Will such a cluster be a region? Having 80 people call into the weekly COM meeting is already difficult. 800 will be impossible. Etc. Our increasing size will require us to adapt continuously. We’ll cross each bridge when we get there. •Will we continue to hire only people that are ready to travel the world without limitation? The time we expected everybody to travel without limitations is coming to an end. Clearly, already today, we staff projects as much as possible with people living as close as possible to where the project is executed. When we hire new people, two elements related to travel are important: - We can never guarantee there will be no travel and - The broader range of project opportunities one is open for, the more career opportunities are likely to present themselves. •Not everything can be handled globally Many ‘Human Capital’ related activities have a local flavor. A good example is coaching. Everything about coaching (the processes, the training, the follow up etc.) is organized globally. Yet coaches are assigned locally. Local representatives from the HCB are responsible for making the process a success. Other examples of local flavor are marketing, legal, and most of the other HR activities. •When starting a new location, you need an initial local ‘drive’ The Capco model for entering a new market has been one of asking one person to take charge and do everything from marketing the brand in the local market to selling and delivering, from renting office space to hiring people. It is thanks to the enthusiasm of these individuals, that new offices come to life. In the initial stages it is important that Capco supports this creative process rather than trying to fit it into existing processes.
46
TheCapcoway
It is then critical to fully incorporate the new office into the global organization at exactly the right time and in exactly the right ways, this ensures that we will continue to be one global organization.
A F L AT O R G A N I Z AT I O N Some frequently heard nonsense: •“At Capco, ‘Hierarchy’ is a dirty word” •“I don’t have a boss, I only work for my personal objectives” •“Everybody is managing, but no one is accountable” and at the other extreme: •“If you are not a partner, you have nothing to say” •“Capco is so flat, it needs 7 levels” These statements and many others find their origin in a misinterpreted concept of a flat organization. Let’s look at what is really intended. Capco Structure and Accountability As will be explained in detail later on, Capco does have a well-defined management structure. Every single activity we perform can be traced to a single person holding full accountability for that activity. Very often this follows a path of several hierarchical levels, at which each person knows his or her responsibility. This will be explained further later in this document.
47
TheCapcoway Hierarchy As an example, take a junior programmer working on a project for a client. Here is a likely hierarchy: the programmer reports to a team leader, who reports to a development manager, who reports to the project director, who reports to the partner in charge of the delivery of this project, who reports into the Solutions Delivery Board, whose chairman reports into the EMC and as such to the CEO. As a second example, take the young researcher who supports a pre-sales effort: The researcher reports to the pursuit team leader, who reports to the black team leader, who reports to the Business Development Board, whose Chairman reports into the EMC and as such to the CEO. There are many more examples. In fact, for everything we do, we can define the exact hierarchical lines, all the way into the CEO. Flat?!?!? So, what is all this business about a flat organization, given we just determined we have a clear structure, clear accountabilities and a clear hierarchy for every activity we are involved in? 1. Level, not rank! Nothing of what was explained above relates to the ‘levels’ we know at Capco: Assistant, Associate, Consultant, Senior Consultant, Principal Consultant, Managing Principal and Partner. These levels are used to help us structure career paths, compensation, client billing and as such represent skill, knowledge, maturity and experience. These levels do NOT represent a rank. They have no hierarchical significance whatsoever. 2. Respect This links into one of our core values: Respect. Capco expects everyone to be treated with equal respect regardless of his or her ‘level’ or function. 3. Leadership style Even when in a hierarchical structure, there are different ways to ‘run’ things. Capco expects its leaders to implement the Capco values while managing projects.
48
TheCapcoway
4. Project based With the exception of Corporate Management, there are only few fixed hierarchies. As will be explained later, the framework structure of governance boards is fairly fixed, but other than that, most people at Capco can get involved in many different things and as such take part in many different hierarchies. For those people, there is no fixed hierarchy, no permanent boss, yet at any given point in time, the hierarchy is clear.
PEOPLE EXCHANGE Not so much an organizational principle, but a mechanism that is key in supporting the two organizational principles described above. (People Exchange is the new term for Resource Brokerage) Everyone who is not part of a fixed structure (today primarily Corporate Management and some members of the EMC, in the future also Software Factory) is part of what is called ‘Group’. Those that are part of Group are in one of two conditions: •Assigned to one or more projects •Unassigned (known as Group Available Time) When unassigned (preferably never), group resources do not belong to any hierarchy. There is no such thing as a default hierarchy (more later about who ‘manages’ people when they are unassigned). When assigned, group resources are part of the hierarchy determined by the project to which they are assigned. This, in a way, is another element of the flat structure. No one is a perma-
49
TheCapcoway nent boss. Who is our boss at any given point in time is determined by the projects to which we are assigned. A different way that has been often used to express this is ‘Nobody owns people permanently’. The People Exchange is the mechanism that allows an efficient mapping between people with skills, experience, career objectives and aspirations on the one hand and projects on the other. It is a supply and demand mechanism. How this process works is explained later in this document. GOVERNANCE MODEL
OVERALL STRUCTURE The Board of Directors of Capco has delegated the day to day management of the company to the CEO. The CEO is the Chairman of the Executive Management Committee (EMC). The EMC delegates ownership for each specific dimension of Capco’s activities to one specific EMC member. The EMC member with ownership for a specific dimension has global accountability for the success of that dimension. To accomplish success he or she also has budget ownership related to that dimension. The dimensions are: •Business Development • Solutions Delivery •Intellectual Assets • Human Capital • Capco Ventures (+ Capco Fund) • Components • Finance & Administration • Legal & Compliance With the exception of the last two, a specific board governs each of these dimensions. The EMC member owning the dimension is the chairman of the board related to that dimension.
BDB Business Development Board SDB Solutions Delivery Board IAB Intellectual Assets Board HCB Humen Capital Board CDB Components Development Board VDB Ventures Development Board
THE GOVERNANCE BOARDS Business Development Board (BDB) The BDB organizes and tracks all sales related activities. The Chairman of the BDB, among other things, is responsible for Capco’s global sales and revenue targets, regardless of whether these are generated through professional services fees, software license fees, BSP transaction fees or other sources.
50
TheCapcoway
The BDBs main activities are: •Define and monitor the way we commercially manage our accounts (TAMM). This includes the appointment of Black Team Leaders, defining account penetration strategies, and tracking and organizing Black Team activity •Delegation of global sales and revenue targets to individuals as part of their individual Management By Objective (MBO) guidelines •Manage the global pre-sales budget. A portion of this budget consists of a percentage of non-billable time of every group resource •Define and monitor LEAP (Lead Process) •Oversee Marketing group •Provide input to the IAB on market needs and thus help drive the strategic direction of IA development The BDB is comprised of members that represent the different aspects of our business. As such, business decisions can be effectively balanced by different areas of interest such as the opportunity to develop intellectual assets as part of a client engagement, the opportunity to sell components, and any other cross functional activities. A typical structure related to business development is:
Black Team Leader
Develops the account plan for specific accounts,
Reports to the BDB for everything
(BTL)
and when an opportunity needs to be chased,
related to his or her role as BTL
assembles a pursuit team Pursuit Team Leader
Is selected through the People Exchange on
Reports to the BTL for everything
(PTL)
request of the BTL to pursue a specific
related to this assignment
opportunity Pursuit Team Member
Is selected through the People Exchange on
Reports to the PTL for the dura-
request of the BTL or PTL and is part of the
tion of the assignment
proposal team
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TheCapcoway All of the above assignments are only valid for the duration of the pursuit. The only assignment beyond the pursuit opportunity is that of Black Team Leader for a specific account. Black Team Leaders are expected to remain on an account for at least one year and preferably longer. Solutions Delivery Board (SDB) The SDB organizes and tracks all client engagements. The Chairman of the SDB, among other things, is responsible for the successful execution of our client engagements, regardless of whether these are professional services, software implementation engagements, or other. The SDBs main activities are: •Define and monitor the way we execute our projects utilizing SDF (Solutions Delivery Framework) in order to apply a uniform approach •Review and approve all proposals before they are submitted to the client (part of the LEAP process). •Delivery and QA of all client engagements •Provide continuous risk assessment and monitoring, presented as a dashboard showing the overall health of our engagements The SDB is comprised of a chairman and a number of members that hold regional delivery accountability. A typical structure related to project delivery is:
Delivery Partner
Is assigned/confirmed by the SDB and accounta-
Reports to the SDB for everything
ble for the successful execution of the project
related to his role as Delivery Partner
Project Manager
Is selected through the People Exchange on
Reports to the Delivery Partner
request of the Delivery Partner to assume the day
for everything related to this
to day management of the project.
assignment
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TheCapcoway
Project Team Member
Is selected through the People Exchange on
Reports to the Project Manager
request of the Delivery Partner or Project
for the duration of the
Manager
assignment.
All of the above assignments are only valid for the duration of the assignment. The Delivery Partner is also a specific project by project role. In addition to these roles, a regional delivery partner is accountable for the success of all projects in the region. •He or she will make sure we do not sell what we cannot deliver by reviewing proposals. Proposals can not be delivered to a client without formal approval of the regional delivery partner. •The regional delivery partner can have the role of Delivery Partner (i.e. get directly involved with the execution of the engagement and manage the Project Manager) or the role of QA Partner (i.e. review project status on a regular basis with the Delivery Partner, Project Manager and the client). Sales - Delivery continuity There is a strong link between sales and delivery. In many cases, the team involved in selling the project is also the team involved in delivering the project: the pursuit team leader becomes the project manager; the pursuit team becomes the core of the project team; and so on. Of course this transition goes through another round with the People Exchange. One particular transition is that of the responsibilities of a Black Team Leader to those of a delivery partner. Two models exist: •The BTL becomes the Delivery Partner In this case one person holds two roles at the same time. As BTL he or she reports to the BDB; as a Delivery partner he or she reports to the SDB. Checks and balances are in place through the second partner involved: the regional delivery partner. He or she
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TheCapcoway will have to sign off on the proposal and during the project will perform QA reviews. (In case the regional delivery partner is also the same person as the BTL, a regional delivery partner from another region performs this task.) •The BTL hands over to a Delivery Partner In this case the Delivery Partner becomes involved early in the proposal writing stage, working closely with the BTL. Both the Delivery Partner and the regional delivery partner must sign off on the proposal. The regional delivery partner performs the QA reviews. In case the regional delivery partner takes the role as Delivery Partner, another partner will do the QA reviews. Intellectual Assets Board (IAB) The IAB organizes and tracks all IA related activities. The Chairman of the IAB, among other things, is responsible for Capco’s overall solutions strategy, regardless of whether these relate to professional services, software, BSPs or others. The IABs main activities are: •Developing and packaging Value Propositions (VAPs) In other words, provide saleable products to the BDB •All IA related activity: - Determine IA strategy and investments - Capture IA from engagements through white teams and knowledge brokers - Capture IA in the outside world through research - Share IA with our clients through thought leadership - Share the IA through knowledge management and knowledge delivery - Educate people internally and externally by packaging IA in training
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TheCapcoway
- Manage the development of IA through VaPs and other internal IA projects - Ensure knowledge assets are maintained and developed •As such the IAB is responsible for the Capital Markets Institute •The IAB is also responsible for the definition and organization of knowledge communities •The IAB manages the global IA budget. A huge part of this budget consists of a percentage of non-billable time of every group resource •There is a strong bi-directional link between IA development and Ventures development. Ventures are often born out of our own IA related thinking (e.g. Operations BSP VaP) and are then taken to the VDB. The VDB will utilize the IAB to validate venture concepts identified in their activities •The IAB oversees the relationships with all of our business partners A typical structure related to IA development is: VaP Owner
Is accountable for the success of the VaP, both in
Reports to the IAB for everything
terms of getting BTLs to sell the VaP to their
related to his or her role as BTL
accounts and in terms of successfully developing it VaP Team Leader
VaP Team Member
Is selected through the People Exchange on request
Reports to the VaP Owner for
of the VaP Owner to manage the development
everything related to this
of the VaP
assignment
Is selected through the People Exchange on request
Reports to the VTL for the dura-
of the VaP Owner or VTL
tion of the assignment
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TheCapcoway All of the above assignments are only valid for the duration of the development. The only assignment that continues beyond the development period is the VaP Owner. Human Capital Board (HCB) The HCB addresses everything related to our people. This includes hiring, staff retention, career development, staffing and billability. In this dimension, the individual is at the center. The HCBs main activities are: •Organizing and monitoring Career Development In essence career development is each individual’s own responsibility. The HCB provides a framework within which this is possible. This consists of a number of elements: - Definition of career tracks Today Capco is developing three career tracks: Consulting Services (all group resources), Software Factories development and Corporate Management. Each of these will outline expected skills (domain, leadership, technical, etc.) corresponding to each level. - Coaching process and assignments Coaches play an important role in guiding an individual’s career (cf coach training material). HCB facilitates the assignment of coaches. Local HCB members provide guidance for coaches. - Appraisal Process The appraisal process is a continuous process. At the start of each assignment the project manager defines individual objectives, discusses these with the individual and the coach, as appropriate, and submits the appraisal to HR. At the end of the project, the project manager does a project appraisal for each individual that links back to the original objectives. Once a year all of the project appraisals are discussed in the appraisal round tables, at which also the coaches are present. The outcome of these round tables is an overall appraisal. This is communicated to the individual on a schedule to be established by the HCB.
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TheCapcoway More details on the appraisal process are documented separately. •Organize and monitor Recruiting/Retention Understand capacity needs from the organization and continuously feed this information into the hiring process e.g. information from Black Team Leaders on what they intend to sell drives the short term hiring. •Organize and monitor staff allocation (People Exchange) People Exchange systems and people (former resource managers) are part of the HCB structure. More details on how this process works later in this document. •Balance staff allocation and hiring to maximize billability At all times the HCB will ensure the combination of current employees and people in the hiring pipeline cover the needs of ongoing and upcoming projects, without creating over-capacity. A measure for this is billability: the percentage of total time spent on billable projects. The company billability target is set by the EMC and will be 70% for 2001. Individual billability targets (group resources) are usually around 80%. (The company average is lower because some people have lower billability targets as a result of specific missions.) Each individual is responsible for achieving his or her billability target. •Establish and implement HR policies Local HR managers and their staffs are part of the HCB structure as well. A number of sub-structures have been created to deal with all of these challenges. •Each location has a People Steering Committee. This Committee is comprised of local HCB members, recruiters, the People Exchange, and senior people directly creating resource needs by selling to clients, leading VaP development, etc. •This committee steers local hiring, assignment issues, billability, etc. and is an initial implementation of the Marketplace leadership team described earlier in this document. •A global committee for Career Development
58
TheCapcoway
•A global committee for Compensation and Benefits •A global committee for Values and Internal Communication •An executive hiring and compensation committee Agreed, a lot of committees, but created out of a need. A need to provide a platform on which highly skilled, entrepreneurial individuals can grow and develop. Components development Board (CDB) CDB governs all component related activity (strategy & architecture, software acquisition strategy, investment decisions, technology vision & business partners, development, delivery & maintenance/support and help desk), its related budgets and the governing processes. Part of the Component Dimension will be a fixed structure with people that are not part of the “Group” resources and also follow a separate Career Development model (Software factories). Activities fall into two structures: •Software Factories: These have dedicated teams in a given location and build standard software solutions. •Solution Centers: Consist of people that are specialized in customizing our software solutions for our customers. Initially these will be considered Group resources. Over time, if there is a continuous need, they could become dedicated teams. Solution Center activity falls into the normal delivery framework and governance. The component strategy (i.e. which components to build when) is driven by the IAB. In addition to this, our internal infrastructure is also governed by the CDB.
59
TheCapcoway Ventures development Board (VDB) The VDB will be responsible for defining and implementing Capco’s investment strategy in new ventures, including the creation or acquisition of new businesses such as Business Solution Providers (BSPs) and the creation of joint ventures. BSPs are new ventures that come out of either client initiatives requesting Capco participation or Capco initiatives as a result of a BSP VaP work governed by the IAB. In the former case, Capco, together with one or more clients, creates a new venture or BSP to serve the financial industry. In the latter case, Capco creates such a venture on its own initiative, possibly inviting clients to participate. Capco Ventures Fund Capco Ventures is the venture capital fund sponsored by Capco that will make investments in businesses that are active in the e-finance space. The fund will be managed by a team of dedicated investment professionals that will leverage the deal-flow, intellectual capital, business contacts, technology and market intelligence of Capco. As sponsor of the Fund, Capco will commit to invest in the fund and create the opportunity for qualifying Capco employees to co-invest with the fund. Capco Ventures will allow Capco to maximize the value creation by leveraging its intellectual capital in investments with superior returns. In the future our venture activities will also create exciting opportunities for Capco.
60
TheCapcoway
HOW DOES CAPCO…?
SELL Targets and Account Plans The annual sales process starts with the annual budgeting process. The EMC sets a theoretical sales and revenue objective for the next year (this happens in October). Individual Partners (and some Managing Principals) indicate what sales and revenue objectives they believe they will be able to achieve in a given account, and as such participate in achieving the global objective. The final result of this BDB driven iterative exercise is that the global sales and revenue target is completely covered by individual targets. Each individual target is mapped against a set of accounts. For each account the Black Team Leader (BTL - the person who holds the target) develops an account plan that details how the target will be achieved. Every account has only one BTL. BTLs are responsible for the overall coordination of sales activity with specific accounts Globally, while individual client partners in each location can and do sell Capco VaPs into these accounts which are counted as part of their BDB sales targets. Any sales activity is of course teamwork. To encourage teamwork, participation in a team that closes a deal is also tracked and is taken into account on a discretionary basis at bonus time. Pre-sales Budgets Each person with a revenue and sales target also has a budget to work with. This budget is currently expressed in man-days and is a given portion of the 30% average unbillable time of group resources. It falls into 3 buckets: •A generic pre-sales budget: used to perform sales activities not related to a specific client. This bucket is limited and should only be used in exceptional cases. In the time tracking system, this bucket appears as ‘<Partner/MP name> GENERAL BUSINESS DEVELOPMENT’.
61
TheCapcoway •An account related pre-sales budget. This is used for all account-related pre-sales that is not attributable to one specific opportunity at that account. In the time tracking system, this bucket appears as ‘<account name> BLACK TEAM’. •The third bucket is used to create separate pre-sales project codes for each opportunity that is being pursued. Most of the pre-sales budget should be found here, as this allows us to track profitability of a project, including the pre-sales effort. In the time-tracking system these codes end in the word ‘PROPOSAL’.
Working the account The BTL now starts penetrating the account. He or she will assemble teams as necessary (black team meetings, client presentations, proposal or pursuit teams etc.) using the budgets mentioned above. A specific pursuit To pursue a specific opportunity, the BTL will assemble a pursuit team by going to the People Exchange and requesting the needed profiles. Once the team is identified, a pursuit team leader is appointed. He or she will be responsible for delivering a high quality proposal. All proposals have to be approved by: •Delivery (the regional delivery partner) provides on ‘deliverability’, risk profile, etc. •Finance provides price calculations and margins •Legal provides a legal risk profile and compliance standards within Capco’s T&Cs It is recommended that the pursuit team leader works with all three constituents throughout the pursuit process and postpones even oral commitments to the client until approval is received from all three parties. No proposal can ever be made without formal (e-mail) approval by the three parties listed above. Most pursuits are very challenging from a content perspective. Pursuit team leaders should make maximal use of intellectual assets present in the company, be it in K-world, or be it in people. A winning proposal marks the start of a delivery process.
62
TheCapcoway
ASSIGN THE RIGHT PEOPLE TO THE RIGHT PROJECTS In a company that has no fixed structure, the People Exchange is the heart of the organizational structure. The human approach In the next section is a short description of the mechanics of the People Exchange. However, even more important is the human factor. That is why we integrated the People Exchange into the HCB. •Individual objectives vs. project objectives The projects to which we are assigned determine in a major way the path we follow through our careers. Therefore, the assignment process begins with the outcome of the annual appraisal session with our coach. During that session, we agree with our coach on our IDP (individual development plan), specific objectives for the year, areas for improvement, new skills to develop/demonstrate, etc. The elements of this information that relate to the types of projects we should be involved in and the types of roles we should play on those projects is available to the People Exchange. When assigning people to projects, especially for long-term assignments, the People Exchange representative discusses the assignment with the individual and the coach to verify alignment with the individual objectives. The project manager is involved in the discussion and defines the individual’s objectives on this specific project. When it is not possible to align the project objectives to the yearly individual objectives, three options are available: - adjust the role on the project, - decide to go for another candidate or - adjust the yearly objectives to reflect the role on this project (e.g. adjust the individual billability target when someone is assigned to a long term internal project). •Personal limitations The People Exchange is also aware of any limitations people might have with respect to practical matters such as
63
TheCapcoway travel. Although we expect a high degree of flexibility from everyone, temporary personal circumstances may prevent individuals from traveling for a certain period of time. The mechanics Every Assignment starts with a need. Someone organizing a project (external or internal) establishes this need: •We are bidding for a client project and as part of the proposal work the pursuit team leader needs to lock in a potential team •A Black Team Leader needs a team to develop a proposal •The project manager of a client project needs additional people •A VaP owner needs to staff the development of a VaP •Etc. The way this need enters the People Exchange varies from a quick phone call (very often on the same day), an e-mail, to entering the exact profile into Novient (hopefully more and more). As soon as Novient is fully rolled out, we will ask the requester to always enter the profile in the system. If the requester enters the profile(s) in Novient, he or she can then immediately execute a search for people with matching skills and availability. In case the request is over the phone or via e-mail, someone from the People Exchange performs this task. A search will first execute locally. If no suitable candidates are found, the request is then posted to the other regions. Once a list of candidates is identified, these are communicated to the requester for review. At the same stage the human elements described in the previous paragraph kicks in, giving additional qualifications about the candidates. Statuses of the candidates are: •Proposed: when they are in a list of candidates proposed for a certain position. People can be proposed for more than one position at a time.
64
TheCapcoway
•Earmarked: one specific candidate is linked to the position. The project is not yet sold, the start date is yet to be determined or is too far in the future for a final assignment. To avoid conflict we try to have people earmarked for only one project at the time, but to increase the change of people getting assigned may allow for a second earmark. An earmark is limited in time, today set at 15 days. •Assigned: in case the project has started or has a firm start date within the next one to 15 days (sold in case of an external project). People can be tagged for multiple projects. Tags remain valid only for a short period of time. With Novient, people can only be assigned or tagged against a project that has a project code. In the near future we hope this to become more of a two-way system. With project needs posted well in advance, individuals will actually be able to apply for a project position. Already today everyone’s involvement in keeping the information up to date is crucial: •Project Managers are expected to update project start and end dates as they change and inform the People Exchange about these changes, as they influence people’s availability. •Project Managers are also expected to review the roll-off dates as published weekly at the COM. These show when certain individuals roll off a project. Any inconsistencies need to be reported to the People Exchange. •With Novient, everybody is asked to confirm on a continuous basis, the correctness of his or her calendar on Novient. This calendar lists actual or planned assignments, vacation days, etc. When all the information is up to date, conflicts can probably be avoided. The conflicts Regardless of how well organized the People Exchange is, conflicts will always occur. Here are three major examples: 1. An individual is on project A until date XYZ. Project B needs this individual’s skills and starts a week later than date XYZ, hence the individual is confirmed to project B. At the last moment the client of project A requests an extension of the work, requiring the individual to continue beyond the start of project B.
65
TheCapcoway 2. An individual is unassigned for a while. His or her skills now match the needs of two projects that are in proposal stage. To optimize the individualâ&#x20AC;&#x2122;s chances of getting assigned, he or she is tagged for both projects. Now both get signed and start approximately at the same date. 3. An individual is assigned to a project. Just before the start of the project, the start date is postponed a week, and then another week, and maybe yet another one. At this time a second opportunity comes along that would be the perfect assignment for the individual. It starts immediately. There are many more examples of course. The people in the People Exchange do not make the decisions in these cases. They present the case to the different stakeholders, providing all the facts (who tagged first, etc.) and may indicate - given a certain set of rules - what would be the fair solution. However, the final decision has to come from the different requesters resolving the issue among themselves. If that is impossible and if the conflict concerns projects within one office, a local leadership team member may resolve the issue (often the regional delivery partner). If the conflict is not resolved and concerns multiple regions, it can be escalated to the COM. CONCLUSION In its very definition, the operating model is unfinished. It will grow richer every time someone new joins the company. This document therefore is just one of the many steps we will take on this journey. It is important however that after periods of change we pause and articulate clearly where we are. Operating models can never become an end in themselves. They are always a means to an end. We can be very proud at who we are and an important aspect of who we are is the way we organize. That is The Capco Way. No doubt to be continued.
66
TheCapcoway
ANNEX: WHO IS WHO
EXECUTIVE MANAGEMENT COMMITTEE (EMC)
GOVERNANCE BOARDS
Chairman
Rob Heyvaert (CEO)
Business Development Board (BDB)
Members
Michel Akkermans
Chairman
Paul Reyniers
Joe Anastasio
Members
Joe Anastasio
Diederik Bostoen
Erwin De Keyzer
Erwin De Keyzer
Philip Ghekiere
Philip Ghekiere
Martha Goss
Martha Goss
Nick Hahn
Charlie Keeling
Charlie Keeling
Geof Master
John Owen
John Owen
Chris Kundro - co-opted*.
Paul Reyniers
Pedro Matthynssens - co-opted*. * co-opted members rotate over time Solutions Delivery Board (SDB) Chairman
Erwin De Keyzer
Members
Dirk De Cock Tony Malaty Luc Philippi Gilbert Swinkels Danny Vogt
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TheCapcoway Intellectual Assets Board (IAB)
Components Development Board (CDB)
Chairman
John Owen
Chairman
John Owen
Members
Joe Anastasio
Members
Joe Anastasio
Michael Busch
Erwin De Keyzer
Philip Ghekiere
Wilfried Grommen
Nick Hahn
Nick Hahn
Charlie Keeling
Marty Markovits
Roger Preece
Bart Schutte
Jos Schmitt
Gilbert Swinkels
Rotating VaP owners
Kurt Vandenberg IA - VaP owners that sponsor the com-
Human Capital Board (HCB)
ponents: Dave Bartoletti, Lieven van den
(Local representatives between brackets)
Brande
Chairman
Charlie Keeling (UK)
Members
Dave Bartoletti (US)
Ventures Development Board (VDB)
Diederik Bostoen (BE)
Chairman
Rob Heyvaert
Erwin De Keyzer (BE)
Members
Michel Akkermans
Philip DePondt (BE)
Joe Anastasio
Serge Godin (BE)
Michael Busch
Tony Malaty (UK)
Philip Ghekiere
Ed Marcil (US)
Martha Goss
Luc Philippi (US)
Ed Marcil
Deborah Phillips (US)
John Owen
Roger Preece (UK)
Paul Reyniers Jos Schmitt
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DestinationBermuda
Quick facts
"That happy little paradiseâ&#x20AC;? Mark Twain Bermuda is a group of 150 islands in the western
AREA: 21 sq miles/54 sq km
Atlantic, about 1040 miles (1680 km) northeast of
POPULATION: 60,000
Miami, Florida and 1000 miles north of the
CAPITAL CITY: Hamilton, population 15,000
Caribbean. Known as "the island", Bermuda is a uni-
PEOPLE: African descent (61%),
que blend of four centuries of British colonial and
European (38%), a small minority of American
American influence, underscored by an unmistakable
Native Indian descent
African beat.
LANGUAGE: English RELIGION: Anglican (28%), Roman
The volcanic islands are surrounded by jagged coral
Catholic (15%)
reefs and enclosed by pink and white coral sands.
GOVERNMENT: Self-governing British
The warming effects of the Gulf Stream create mild,
dependency
agreeable temperatures with an average high of 75-F
PREMIER: Pamela Gordon
(24-C) and low of 68-F (20-C). This frost-free clima-
HEAD OF STATE: Queen Elizabeth II
te fosters a tumble of colorful flowers year round,
GDP: US$ 1,8 billion
such as bougainvillaea, hibiscus and oleander.
GDP PER PERSON: US$ 29,000 ANNUAL GROWTH: 2.4%
American author Mark Twain spent many years in
INFLATION: 2.5%
Bermuda (1867 to 1910), lured by its "peaceful
MAJOR INDUSTRIES: Tourism and finance
serenities and its incomparable climate." He spent
MAJOR TRADING PARTNERS:
many of his last years here and was always enchanted
US, Canada, UK
by the inhabitants of what he called "that happy little
CURRENCY: Bermuda dollar (US dollars
paradise."
widely accepted) TRANSPORTATION: There are no car rentals. Get to where you are going via public buses, ferries, horse and carriage, a rental moped or motorscooter (left-hand side driving) or taxi.
70
HISTORY
Despite its trade ties with
Spanish sea captain Juan de
American colonies, Bermuda
BermĂşdez first sighted these
maintained strong political
uninhabited islands around
bonds with Britain during the
1503. The islands soon became
American War of Independence.
an important navigational landmark for galleons crossing the Atlantic between Spain and the New World. In 1609 Admiral Sir George Somers, en route from England with supplies for the recent British settlement at Jamestown, Virginia, ran his ship into the treacherous reefs. The admiral built a replacement ship of Bermuda cedar and sailed off, leaving a couple of men behind to hold a British claim to the islands. (The experience of these castaways is thought to have inspired Shakespeare to write The Tempest.) Three years after Somer's nautical misadventure the Virginia Company established a colony of
The Americans retaliated by conbountiful as was first thought. Shallow topsoil limited the potential for cultivation and the lack of water prevented commercial crops such as sugar cane from being introduced. Thus began the settlers' dependence on food imported from the American colonies, which they paid for by supplying sea salt.
fiscating the cargo of Bermuda's merchant fleet, devastating the economy. During the War of 1812, the British used Bermuda as base from which to attack Washington DC. During the US Civil War, when the north blockaded southern ports, Bermuda flourished as a transshipment center for the blockade runners' shipments of cotton to
The company ran the island until 1684 when the settlers sued to have its charter rescinded and
England. This short-lived prosperity ended abruptly when the south was defeated.
Bermuda became a British Colony. Slaves were introduced in 1616, employed as domestic servants or trades people until slavery was abolished in 1834. At that time, 5,000 of the 9,000 people living in Bermuda were registered as black or "colored."
In 1883, Prince Louise, daughter of Queen Victoria and the wife of the Governor General of Canada put Bermuda on the tourist map after finding it a welcome escape from the long Canadian winters. By the turn of the century,
60 settlers. However, these
Bermuda was a fashionable win-
subtropical islands were not as
ter destination for "snow birds",
71
who regularly migrated to the
Riots and protests against racial
islands.
antagonism in the 1970s resulted in the abolition of all discrimina-
The islands' strategic location in
tion and launched talks about
the Atlantic anchored Allied
independence. The issue of inde-
military intelligence operations
pendence from Britain domina-
during WW II, however, the US
ted the political scene but in
developed bases on the island
1995, a referendum for indepen-
after Britain signed a 99-year
dence failed by a two-thirds
lease handing over substantial
majority because residents feared
portions of the territory to the
the political and economic costs
US military. Women were given
of independence. Two weeks
the right to vote following the
later the US closed its air base
war and franchise qualifications
and in 1997 the United Bermuda
were lifted from black voters.
Party's Pamela Gordon was elected premier.
In 1963, the Progressive Labour Party was formed in part to
C U LT U R E
represent the interests of non-
British and African heritages
white Bermudans, who resisted
blend together well on the
being governed by a majority of
island. British influences predo-
white landowners. The rest of
minate in institutions and the
the parliamentarians united to
African in music and dance.
form the United Bermuda Party
The music of African origin
and by 1968, the two parties pro-
comes via the West Indies (reg-
duced a constitution that provi-
gae and calypso) and in the com-
ded for internal self-government
pelling rhythm of Gombey dan-
while leaving security, defence
cers - unique to Bermuda.
and diplomatic affairs to the crown.
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around November and Brits swim all year round. The shallow water, warm currents, numerous shipwrecks and coral reefs make for great diving from April through October. There are plenty of shipwrecks to explore, including the 500-ft (150m) Spanish liner, Cristobal With its roots in West African
Colon, which ran aground
tribal music, Gombey dancing
8 miles (13 km) north of Ber-
incorporates influences from
muda in 1936. Diver operators
Christian missionaries, the
offer courses for beginners.
British military and American
Favourite spots for snorkelling
Indians, from whom the dancers
include Church Bay in
have adapted their costumes.
Southampton Parish and Tobacco
Often the dancing acts out
Bay north of the Town of St
biblical stories.
George. Windsurfing, sailing and
W H AT ' S T H E R E T O D O ? There's plenty to on the island,
fishing (marlin, tuna and barracuda) are also popular.
but the beaches are superb.
The covered tracks that once car-
South Shore Park tops the list,
ried the railway are now popular
with nearly a dozen coves linked
walking trails. A government
by coastal trails. Check out
guide to the Bermuda Railway
Warwick Long Bay on the eas-
Trail is available. There are eight
tern fringe for splendid, pastel
golf courses.
coral sands and good waves. Word is that locals don't swim
Nonsuch Island bird sanctuary is
after September, Americans quit
preparing for the reintroduction
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Quotes From the letters and journals of American author Mark Twain (Samuel Clemens):
of the Bermuda petrel, one of the
strong winds. Snorkellers can see
most endangered birds in the
ships sunk in the crystal clear
world. Human access to the
blue waters near the coasts of the
island is restricted but the
island and Florida, resting
Bermuda Biological Station and
forevermore on the unexplored,
the Bermuda Audubon
mysterious ocean floor.
Society occasionally takes groups "The spirit of the place is serenity, repose, contentment, tranquility." "The weather is perfect and if you want some of it for your own use or for sale, please let me know and I will see that you get all you want - but our government will swindle you on the duty, as it does on all imports." "The early twilight of a Sunday evening in Bermuda, is an alluring time. There is just enough of whispering breeze, fragrance of flowers, and sense of repose to raise one's thoughts heavenward."
on tour.
During the past 100 years, the Bermuda Triangle has claimed
The imposing Georgian-style
more than 1,000 lives. The num-
Royal Naval Dockyard fort was
ber of deaths in itself is not
built between 1814 and 1863 by
incredible, but it is how they
nearly 10,000 convicts quartered
died that has sparked legend.
on prison ships stationed in the
Ever since Christopher
deepwater cove. The dockyard
Columbus ran into problems and
includes the Bermuda Maritime
reported his compass acting
Museum, a pub, movie theatre,
strangely and "a large ball of
craft market and a snorkel park.
light fallen from the sky", as
OR, YOU CAN GET LOST IN THE BERMUDA TRIANGLE... The mystery of the Bermuda Triangle, bordered by Bermuda, Puerto Rico and Miami, is really a geographic phenomenon characterized by a humid subtropical climate. The weather is violent
"The spectacle of an entire nation grovelling in contentment is an infuriating thing."
and unpredictable, with sudden, spectacular storms conjuring waterspouts and extremely
74
many as 100 ships and planes have been reported missing, many lost without a trace. The disappearances have been blamed on atmospheric disturbances, erratic magnetic forces, time warps and extra-terrestrial kidnappings. Best to be safe and check out the Bermuda Triangle Brewery in Southampton Parish.
W H AT ' S T H E R E T O E AT A N D D R I N K ? Local seafood dishes are celebrated. The fish chowder, made with rockfish or snapper, is flavored with local black rum and sherry pepper sauce. Codfish cakes are prepared on certain days of the year and Johnnycakes - cornmeal griddle cakes with peas and rice - are everyday fare. The highlight is Sunday codfish breakfast accompanied by eggs, boiled Irish potatoes, bananas, avocado and a sauce of onions and tomatoes. Black Seal Rum is the locally brewed national favorite Bermudans drink it with ginger beer.
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Practicalinformation TELEPHONE & INTERNET ACCESS
breakout or in the knowledge
Sonesta Beach Resort
fair, or have urgent client work
Situated on its own spectacular
On arrival at Bermuda, every
to do, you should not bring a
25-acre peninsular, the hotel is
Capco employee will receive a
laptop.
surrounded by three inviting beaches, each with its own uni-
pre-paid calling card. Calls made outside the provisions of calling
HOTEL ADDRESSES
que character and breathtaking,
card will not be reimbursed. For
Southampton Princess Hotel
indigenous scenery. The hotel
special requirements, contact
Perched on a hillside, at
reflects the island’s breezy luxury,
GEF staff at Central Point of
Bermuda’s highest point, the
combined with a distinct
Contact.
hotel offers stunning views over
European flavour.
The country code for Bermuda is
pink beaches and turquoise seas.
‘+1 441’. The outgoing interna-
Situated in 100-acres of lush
Sonesta Beach Resort
tional code is ‘1’ for USA and
vegetation and with a private
Southshore Road
‘011 + country code’ for the rest
beach this hotel offers old world
Southampton
of the world. To obtain an out-
charm combined with new world
Bermuda
side line from the hotel dial ‘9’.
panache.
T: +1 (441) 238-8122 F: +1 (441) 238-8463
Standard Capco mobile phones from Asia, Europe and USA do
Southampton Princess Hotel
not work in Bermuda.
101 South Road
UK and US 1-800 numbers are
Southampton
CENTRAL POINT O F C O N TA C T ( C P C )
not toll free and are classed as
Bermuda SN02
If you wish to contact Capco’s
long distance calls from Bermuda
T: + 1 (441) 238-8000
central point of contact (CPC)
and are therefore very expensive.
F: + 1 (441) 238-8968
during the GEF, please use the following numbers:
Unless you are a presenter in a
76
CPC Direct Telephone:
is the case tickets for this flight
At Sonesta Beach Resort -
+1 (441) 238 6505
will be distributed upon check-in
On the Terrace
CPC Direct Fax:
at the airport.
Your luggage will be delivered
+1 (441) 238 6498
Tickets for connecting flights
directly to your room from the
In addition, there will be a
and non-standard flights will be
airport.
Capco Hospitality Desk situated
sent to you prior to travel
Once Registration is complete, and for the duration of the event,
in both hotels, open throughout the event, with staff to answer
A I R P O R T T R A N S P O R TAT I O N
a Capco Hospitality Desk will be
questions and assist you. These
Roundtrip transportation will be
located:
are located:
provided to/from Bermuda
At Southampton Princess:
Southampton Princess Hotel -
Airport on Thursday, October 26
In the Atlantic Lobby
the Atlantic Lobby
and Saturday, October 28 only.
At Sonesta Beach Resort:
Sonesta Beach Resort - Lobby
Upon arrival in Bermuda, once
In the Lobby
Level, opposite Main Elevators
you have cleared customs and immigration, you will be met by
LUGGAGE
T R AV E L A R R A N G E M E N T S
a Capco representative. You must
Capco luggage tags will be distri-
Should you have any queries
identify your luggage to the
buted at airport check-in. Please
regarding your travel arrange-
Capco porters who will take care
ensure that you attach these to
ments please contact the CPC
to deliver it directly to your
each piece of your luggage. This
and we will be happy to assist
hotel.
will allow airport porters and
you.
Details of your departure transfer
hotel staff to identify your lugga-
and arrangements will be com-
ge quickly and easily.
T R AV E L D O C U M E N T S
municated to you the day before
A valid passport and your return
departure.
REQUESTS FOR SPECIAL SERVICES
each person entering the United
A R R I VA L I N F O R M AT I O N
If you require special services
States & Bermuda.
Upon arrival at your hotel please
during the event or need to bring
Many guests will be travelling on
check-in at the Capco
a situation to our attention in
a private charter aircraft for
Registration Desk located:
case of an emergency please con-
portion of their trip, where this
At Southampton Princess -
tact the CPC.
airline ticket are required for
the Atlantic Lobby
77
GETTING AROUND
PERSONAL EXPENSES
ELECTRICAL CURREN
Transportation has been arranged
The hotel will maintain a separa-
The electrical current in
to all off-site events and activi-
te account for your personal
Bermuda is 110 Volts, 60Hz.
ties. Should you require trans-
incidental expenses, which are
Plugs are of the American flat
portation other than what is pro-
not included in the Capco pro-
2-pin type. European electrical
vided then please visit the CPC
gram. Expenses not included are
appliances not fitted with dual-
onsite.
laundry, bar charges (including
voltage capabilities will require a
in-room mini-bar), room service,
plug adapter, which is best pur-
G R AT U I T I E S & T I P P I N G
extra in-room amenities, in-room
chased before arrival in
All gratuities associated with
telephone calls and any meals or
Bermuda.
Capco’s Global Employee Forum
snacks not included in the pro-
including bell staff, baggage
gram. Both hotels accept all
TIME ZONES
handling, drivers, guides and
major credit cards.
Bermuda is GMT - 4. For examp-
group meals at planned functions
le, when it is noon on Friday,
have been covered on your
C L I M AT E A N D AT T I R E
behalf. It is suggested that you
Bermuda enjoys a semi-tropical
only tip for personal services not
climate. The Gulf Stream that
October 27 in Bermuda, it is: TIME 8:00am 11:00am 4:00pm 5:00pm 5:00pm 5:00pm 11:00pm
DAY Friday, Friday, Friday, Friday, Friday, Friday, Friday,
October October October October October October October
27 27 27 27 27 27 27
CITY San Francisco New York London Antwerp Frankfurt Paris Singapore
included in the program or for
flows between Bermuda and the
outstanding service.
North American Continent keeps
At a restaurant it is customary to
the climate temperate with an
tip 15% of the meals cost if you
average temperature of
are happy with the wait service.
21°C/70°F year round. October
If you received excellent service,
is late summer in Bermuda and
20% is generally appreciated. It
the seasons are beginning to
is very insulting if you do not tip
change. Showers can occur and
On Saturday, October 28 at 00:00
at all after a meal.
may be heavy at times. Light
Summer Time ends in UK and
waterproofs or an umbrella is
Continental Europe and the
recommended.
clocks are turned back by 1
All Global Employee Forum
hour. This time change has been
events and activities are casual.
taken into account in flight
78
departure and arrival times pro-
Credit Cards: Most major credit
vided, no adjustment must be
cards are accepted Bermuda,
made. At this time Bermuda
including Diner’s Club, American
becomes GMT - 4.
Express, Visa & Mastercard. We do advise that you carry at least
MONEY
one major credit card. Both
Currency: Bermuda Dollar
hotels accept all of the above.
(Bda$) = 100 cents. Notes are in denominations of Bda$ 100, 50,
IN CASE OF EMERGENCY
20, 10, 2 and 2. Coins are in
Dial ‘0’ and ask the hotel opera-
denominations of Bda$ 1, and
tor to assist you in locating a
25, 10, 5 and 1 cents.
Capco staff member. We will
Currency Exchange: The
assist you in getting the proper
Bermuda Dollar is tied to the US
care you need. In the event that
Dollar. US Dollars are generally
it is the emergency services you
accepted at par. It is illegal to
require urgently please dial ‘911’.
exchange money other than at authorised banks and exchanges. Currency can be exchanged at the Front Desk in your hotel. US Dollar travellers cheques are widely accepted. To avoid additional change fees, these are recommended as they can be used as cash.