Calyon Signs Three-Year Consulting, Systems Integration and Application Outsourcing Services Agreements with Accenture and Capco
PARIS; July 11, 2007 – Calyon, the Crédit Agricole group’s corporate and investment banking subsidiary, has signed two three-year consulting, systems integration and application outsourcing agreements with Accenture and Capco. The agreements are part of Calyon’s IT investment program, which is designed to support the accelerated growth of the bank’s capital markets business.
The agreements make Accenture and Capco strategic partners of Calyon in the area of capital markets technology support. The new relationships aim to support the bank’s IT transformation program and provide Calyon with access to Accenture’s and Capco’s specialized onshore and offshore IT development resources.
“IT excellence is vital to the rapid expansion of our capital markets business,” said Eric Baudson, global head of Calyon’s Capital Markets Supports. “We need to accelerate the development and optimize the costs of IT systems that help industrialize complex, high-volume capital markets operations. We have chosen Accenture and Capco for their knowledge of our activities and their global systems integration and application outsourcing expertise.”
“Accenture has supported Calyon since the beginning of this transformation program and is dedicated to helping the bank industrialize its capital markets operations,” says Pierre Pouyfaucon, a senior executive in Accenture’s Financial Services operating group who leads the company’s Calyon client service team. “Services will be provided to Calyon by our teams of capital markets and IT specialists, and through our Global Delivery Network, which has more than 63,000 people and more than 40 delivery centers across five continents. We believe Calyon’s program is among the most innovative projects in the marketplace and represents a powerful model for future capital markets business operations and high performance investment banking.”
“The Calyon transformation project represents one of the largest investments in the re-organization of IT within the capital markets industry, more specifically in the derivatives sector,” says Farzine Fazel, Partner and head of Capco’s Derivatives Service Offering. “Thanks to our deep capital markets expertise and track record, we were able to advise Calyon from the strategic vision and definition of this transformation all the way to its execution. Based on our global presence in this very specific market, and our experienced professionals, we will mobilize all our capabilities to meet the high level of expectations set by Calyon’s management.”
Calyon is the Crédit Agricole group’s corporate and investment banking subsidiary. Backed by Crédit Agricole’s credit ratings and financial solidity, Calyon is a leading contender in financial markets and is ranked among Europe’s top ten corporate and investment banks. Credit Agricole is the fourth largest bank in the world by tier 1 capital, number two in Western Europe, (The Banker, July 2007). Credit Agricole Group employs over 155,000 and has €58.7 bn capital and assets in excess of €1,250bn.
Calyon has operations in 58 countries and offers its clients a full range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking and international private banking. Calyon is organised in two major divisions – capital markets and investment banking, and financing activities.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 158,000 people in 49 countries, the company generated net revenues of US$16.65 billion for the fiscal year ended Aug. 31, 2006. Its homepage is www.accenture.com.
Capco is the global provider of integrated transformation services to the Financial Services Industry. With offices in North America, Europe and Asia, Capco provides integrated Consulting, Technology and Managed Services activities. Capco combines its exclusive focus on financial services with a Global Delivery Model. Our Service Offerings are engineered by financial services experts exclusively for the Financial Services Industry. As pioneers of transforming operational capability and efficiency, we help clients successfully increase revenue, reduce costs and enhance control. We merge innovative thinking with an unrivaled knowledge of our industry. For more information, please visit www.capco.com.
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