Calyon Signs Three-Year Consulting, Systems Integration and Application Outsourcing Services Agreements with Accenture and Capco.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Calyon, the Credit 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 in·dus·tri·al·ize v. in·dus·tri·al·ized, in·dus·tri·al·iz·ing, in·dus·tri·al·iz·es v.tr. 1. To develop industry in (a country or society, for example). 2. 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 The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. 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 Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets 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 mo·bi·lize v. 1. To make mobile or capable of movement. 2. To restore the power of motion to a joint. 3. To release into the body, as glycogen from the liver. all our capabilities to meet the high level of expectations set by Calyon's management." About Calyon Calyon is the Credit Agricole group's corporate and investment banking subsidiary. Backed by Credit Agricole's credit ratings and financial solidity so·lid·i·ty n. 1. The condition or property of being solid. 2. Soundness of mind, moral character, or finances. Noun 1. , Calyon is a leading contender in financial markets and is ranked among Europe's top ten corporate and investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. . Credit Agricole is the fourth largest bank in the world by tier 1 capital Tier 1 Capital A term used to describe the capital adequacy of a bank. Tier I capital is core capital, this includes equity capital and disclosed reserves. Notes: Equity capital includes instruments that can't be redeemed at the option of the holder. , number two in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). , (The Banker, July 2007). Credit Agricole Group employs over 155,000 and has EU58.7 bn capital and assets in excess of EU1,250bn. 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. About Accenture Accenture is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , 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. About Capco Capco is the global provider of integrated transformation services to the Financial Services Industry. With offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia, Capco provides integrated Consulting, Technology and Managed Services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality 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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