Bengaluru: Wipro Ltd has appointed Anne-Marie Rowland as Capco’s chief executive officer (CEO), according to a Wipro filing sent to the stock exchanges. Currently the managing partner of Capco’s business in the United Kingdom and Ireland, she will take over as Capco’s chief executive from 1 April 2024.
The Bengaluru-headquartered IT company acquired British consulting firm Capco for $1.45 billion on 29 April 2021, in what was the IT major’s biggest acquisition since its foundation.
Rowland will replace Lance Levy, who was Capco’s chief executive for nearly a decade, and will report to Wipro CEO and managing director (MD) Thierry Delaporte. She will also become part of the Wipro Executive Committee (WEC).
Levy will take over as Capco’s strategic advisor, according to the press release.
“I’m glad to announce Lance’s continued support as Strategic Advisor, helping Annie and Capco’s business through a carefully planned transition. Annie has a deep understanding of Capco, our clients, teams, and the consulting industry,” said Delaporte in the press release.
Rowland joined Capco in August 2010 and was promoted to the Partner’s position, which is Capco’s senior-most leadership team, in 2015. Before her role as managing partner, she worked in the Capco Global Leadership Team for several years, including as global head of Capco’s Consulting and Transformation practice, and Global Client Partner for various financial institutions.
“Our clients’ needs are changing at pace as they look to meet the challenges and opportunities presented by emerging technology and evolving business landscapes,” said Rowland in the press release, adding that she would continue to work closely with Levy in his new role.
Thierry Delaporte in the company’s FY22 annual report said Capco recorded double-digit growth and helped the company sign over 60 clients across markets. The acquisition of Capco in April 2021 contributed ₹66.62 billion, or 8.4% of Wipro’s ₹795 billion revenue for the financial year ended 31 March 2022, according to the company’s financials.
Wipro’s revenue from the banking, financial services, and insurance (BFSI) vertical has been falling 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 vertical.
Wipro is expected to be the only IT firm out of the top four Indian IT companies to end FY24 with a revenue decline. The IT company in its December 2023 quarter results projected its fourth quarter revenue to change between -1.5% to 0.5%. This revision suggests that Wipro can end FY24 with a revenue decline of 3.7%-4.1% from that in FY23.
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Published: 20 Mar 2024, 08:06 PM IST
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