Manchester: And what else happened this week? A round-up of the rest of the news in brief.
- Capita plc said in an interim statement that it has made an encouraging start to 2012 with Q1 turnover 17% ahead of Q1 2011, mainly due to the additional revenue from acquisitions undertaken during 2011 as well as good progress across the Group's businesses. It has had a successful period in bidding for new contracts, winning a total of £900m major sales opportunities in the first 16 weeks of the year (full year 2011: £2.0bn), whilst its bid pipeline remains strong, particularly across the central and local government markets. The firm has acquired 6 complementary businesses in the period, and since its preliminary results announcement in February, it says it is seeing a greater number of acquisition opportunities which could add further value.
- KPMG Europe LLP's Information Protection and Business Resilience practice was awarded the Information Security Consultancy of the Year by SC Magazine, the second year running that KPMG has won the award. Malcolm Marshall, KPMG's UK and global head of Information Protection and Business Resilience said, "With over 650 security consultants across Europe and 1,700 globally, KPMG is the first choice for security consultancy for many of the world's leading companies. Faced with a rapidly changing set of threats from increasingly sophisticated and determined adversaries, many companies are choosing KPMG for their track record in delivering rapid improvements in security."
- Financial services specialist Capco, celebrated the second anniversary of the re-establishment of its Amsterdam-based operations and the first birthday of its South African presence in Johannesburg. Capco argues that regulatory compliance has been the dominant driving force across the (financial services) industry, and it is clear that the industry at large seems to have adopted a mixed response between reluctance and apprehension. Capco Partner Jean-Paul Hokke comments, 'No clear incentive appears to exist for Dutch financial firms to proactively adopt the new rules and act accordingly. Mandatory changes are generally seen as cost-centric, with little appetite, or capacity for growth oriented change. Now would appear to be the perfect moment to make 'game-changing' modifications to existing business models. Long-term industry focus needs to be firmly focused on what will add value to clients, as this is what will generate superior returns in the longer-term.'
- Alvarez & Marsal has started a Valuation Services practice led by Managing Director John O'Neill in New York. Bryan Marsal, co-CEO of A&M, said, "Adding valuation services fits our strategy of growing a global full service advisory firm focused on solving complex problems for our clients. We have recruited John to run this business because of his great experience in running professional service firm divisions within global organizations."