Bermuda HREvent

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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

6

Maps

12

Guest speakers

17

Breakouts

18

Knowledge fair

26

Awards

32

Partners

34

The Capco Way

42

Bermuda

70

Practical Info

76

Notes

80

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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

6

1/2

Parliament Street

5 4 Burnaby Street

Queen Street

Church Street

Reid Street

Front Street

4

3

1

City Hall

3

Harbour Room

5

The Little Theatre

2

Art Gallery City Hall

4

No. 6 Passenger Terminal

6

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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s

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

51


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

52


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

53


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

54


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

55


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.

56



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 individual’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

67


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

68



DestinationBermuda

Quick facts

"That happy little paradise� 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.

72


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

73


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.

75


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.



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