Wipro nominates Anne-Marie Rowland as Capco CEO
UNITED KINGDOM, UNITED STATES, and INDIA — Information technology (IT) company Wipro has appointed Anne-Marie Rowland as Chief Executive Officer of Capco, the firm’s British management consulting arm.
Rowland is currently Capco’s managing partner in its UK and Ireland practices and a member of the firm’s global leadership team. Her appointment as CEO will take effect on April 1, 2024.
She will report to Wipro CEO and Managing Director Thierry Delaporte and will become a member of Wipro’s Executive Committee (WEC).
Lance Levy, who has led Capco as CEO for close to a decade, will take on a new role as Strategic Advisor and continue to support Capco’s strategic direction and Wipro’s overall consulting strategy.
“Lance has provided unmatched leadership to Capco for over a decade. Under his guidance, Capco has differentiated itself as an industry-leading full-service transformation consultancy and become a key growth pillar for Wipro,” said Delaporte
Rowland joined Capco 14 years ago and has deep consulting expertise in business change management, innovation, and transformation.
“Our clients’ needs are changing at pace as they look to meet the challenges and opportunities presented by emerging technology and evolving business landscapes,” Rowland said.
“Together, Capco and Wipro are a winning combination that delivers the deep expertise, focus and scale required to ensure our clients’ future success.”
Wipro acquired Capco for US$1.45 billion in 2021. According to the company’s books, the acquisition of Capco in April 2021 contributed ₹66.62 billion (US$799 million), or 8.4%, of Wipro’s ₹795 billion (US$9.5 billion) revenue for the financial year ended March 31, 2022.
The firm’s revenue from its banking, financial services, and insurance (BFSI) vertical has been dwindling since the quarter ended December 2022.
As of the December 2023 quarter, Wipro earned $868.5 million, or 32.7% of its $2.67 billion December quarter revenue from the BFSI segment.
Wipro is expected to be the only IT firm out of the top four Indian IT companies to end FY24 with a revenue decline.
In its December 2023 quarter results, Wipro forecasted its Q4 revenue to change between -1.5% and 0.5%, implying that the firm can end FY24 with a revenue decline of 3.7%-4.1% from that in FY23.
Wipro ranked #4 in the OA500 2024, an objective index of the world’s top 500 outsourcing companies. This is a slight decline from its previous ranking of #3 in the OA500 2023.
