Capco, an international financial services advisory firm, has launched operations in the Middle East.
According to its parent firm, Wipro, Capco’s launch in the Middle East will lend its management and technology consulting capabilities to financial services firms in the region and assist their transformation, digitisation, and business consolidation initiatives.
The new operation will be led by Naim Alame as managing partner, Middle East. He joins from Accenture Middle East, bringing extensive experience in financial services, having delivered digital and core transformation programs across major banks in the region.
Wipro said that regional macroeconomic trends, including diversification from a petrodollar economy, are driving significant investment in financial services in the region, especially focused on digital innovation, neobanking, post-merger integration and core large-scale transformations.
Against this backdrop of change, consulting spend in the Gulf Cooperation Council region reached US$3.3 billion in 2022 – of which financial services accounted for some 30% – and is expected to grow by 30% year-on-year in the near term. The need for transformation programs makes Capco well-positioned to tap into the growth opportunities in the region, Wipro said.
“Our ambition in the Middle East is simple – for Capco, as a creative, disruptive management and technology consultancy, to support the region’s most prestigious financial services institutions,” said Lance Levy, CEO of Capco and executive sponsor of Wipro’s financial services business. “Capco has always been about pushing boundaries and creating new opportunities, for our business and our people. Our new Middle East presence continues to deliver on that.”
“The success of Capco’s innovative and entrepreneurial approach is recognised across the financial services industry,” Alame said. “Capco’s bold ideas and value propositions will allow financial services firms in the region to enhance the scope, accessibility, and attractiveness of their offerings to their customers. I look forward to partnering with Middle Eastern clients to design and implement bespoke, strategic programs that will deliver true value and differentiation.”
