Driven by market capitalization growth in emerging economies, the wealth of the world’s high net worth individuals (HNWIs[1]) increased 9.4 percent to US$40.7 trillion in 2007, according to the 12th annual World Wealth Report, released today by Merrill Lynch (NYSE: MER) and Capgemini. The number of HNWIs in the world increased 6 percent in 2007 to 10.1 million, the number of ultra high net worth individuals (Ultra-HNWIs[2]) increased by 8.8 percent, and for the first time in the history of the Report, the average assets held by HNWIs exceeded US$4 million.

The global economy had a transitional year in 2007, characterized by sharply opposing macroeconomic environments. While momentum carried over from 2006 helped to sustain unabated growth in the first few months of 2007, the economy faced heightened uncertainty by year-end. Global growth remained solid in 2007, in terms of both real GDP and market capitalization– the two primary drivers of wealth generation. Strong worldwide gains in the first half of 2007 boosted HNWI growth across the globe; while in the second half of the year, resilient emerging economies offset slowdowns in mature ones. The global economy grew by 5.1 percent, down slightly from the 5.3 percent global growth in 2006.

Emerging Economies and BRIC Nations Lead the Pack

Impressive growth of emerging economies was boosted largely by thriving export sectors and heightened domestic demand. The largest regional growth of the HNWI population occurred in the Middle East, Eastern Europe, and Latin America, with increases of 15.6 percent, 14.3 percent, and 12.2 percent, respectively. Gains in commodity exports, paired with growing international acceptance of emerging financial centers as significant global players, contributed to the growth rates of emerging economies.

The BRIC nations (Brazil, Russia, India and China) continued to play pivotal roles in the global economy in 2007, driven by impressive economic gains and robust market capitalization growth.

“This year’s Report found that the number of high net worth individuals, and the amount of wealth they control, continued to increase in 2007, with the greatest wealth being created in the emerging markets of India, China, and Brazil,” said Robert J. McCann, president of Global Wealth Management at Merrill Lynch. “While trends indicate opportunities exist for wealth management firms to tap into new growth markets, success will go to those that recognize their existing service, delivery and technology strategies must be adapted and tailored to meet the unique needs of these target growth markets.”

India led the world in HNWI population growth at 22.7 percent, driven by market capitalization growth of 118 percent and real GDP growth of 7.9 percent. Although India’s real GDP growth decelerated from 9.4 percent in 2006, current levels are considered more stable and sustainable. India’s two largest exchanges – the Bombay Stock Exchange and the National Stock Exchange – ranked among the world’s top 12 exchanges by end of 2007, boosted by initial public offering markets and heightened international interest.

China experienced the second largest expansion of their HNWI population, advancing 20.3 percent – an increase fueled by market capitalization growth of 291 percent and real GDP growth of 11.4 percent. Significant price increases and strong IPO activity propelled the Shanghai Exchange to become the sixth largest exchange in the world in terms of market capitalization.

But while market capitalization and real GDP growth rates were higher in China than India, the HNWI population of India grew faster in 2007. The Report suggests that as market capitalization and real GDP in China were spread over a larger population, there were smaller per capita gains in China. In 2006, India had a larger market capitalization growth than gross national income, significantly impacting HNWI population growth in India. In addition, China is currently experiencing explosive growth in its “mass affluent” population, which has yet to break the HNWI threshold of US$1million.

Brazil enjoyed the third-highest HNWI growth rate in 2007, with a 19.1 percent increase, spurred by a wave of robust market capitalization growth of 93 percent and real GDP growth of 5.1 percent. Net private capital flows to Latin America doubled in 2007, contributing to the Bovespa Stock Exchange’s fourth place ranking among the world’s largest IPO markets and 7.2 market share gain. This, according to the Report, lent support to the establishment and global integration of the Brazilian financial system.

Russia was home to one of the world’s 10 fastest-growing HNWI populations, despite growth deceleration from 15.5 percent in 2006 to 14.4 percent in 2007. Solid gains of 37.6 percent in market capitalization and 7.4 percent in real GDP represented the growing international interest in the country as a global player, suggesting that the ongoing development of Russia’s external relationships will likely improve the economy’s fundamentals.

Market Capitalization Growth Explodes in Emerging Markets

With a significant portion of HNWI wealth invested in stock markets, market capitalization performance is an important determinant of HNWI wealth generation. While traditional United States, European, and Asian stock market indexes experienced moderate growth, many emerging markets extended winning streaks of robust gains. Various Dow Jones Market Indexes, for example, had moderate returns in 2007, averaging 6.8 percent, far below the 17.3 percent average in 2006, and compared to 2006, market gains in 2007 failed to have as positive an impact on HNWI wealth generation.

Most major European and Asian indexes were contained to low single-digit growth; the world’s worst performer, the Nikkei 225, contracted 11.1 percent, while Europe’s best performer, the German DAX, was the only major traditional index to outpace its 2006 performance and sustain double-digit growth.

Fueled mostly by organic price increases, the Shanghai and the Shenzhen Stock Exchanges grew at 303 percent and 244 percent, respectively. India’s Bombay Exchange and National Stock Exchange had respective growth rates of 122 percent and 115 percent.

“The divide between market capitalization growth in mature and emerging economies was significantly more pronounced in 2007 than in previous years,” said Bertrand Lavayssière, Managing Director, Capgemini Global Financial Services. “Despite slowdowns in the growth of traditional stock exchanges and significant market volatility, several emerging market exchanges experienced robust gains in 2007, further accelerating global wealth.”

Record Wave of IPOs, Other Investments Draw HNWIs to Emerging Markets

Emerging markets made significant contributions to record-level worldwide IPO activity in 2007. More than 1,300 IPOs raised about US$300 billion during the year—and emerging markets captured 7 of the top 10 issues. The BRIC nations exhibited particular strength in the area, accounting for 39 percent of global IPO volume in 2007, up from 32 percent in 2006.

Net private capital flows to emerging markets also increased in 2007. China attracted the largest absolute amount of private capital in 2007 at a country level, drawing in about US$55 billion. Emerging Europe was the most popular regional destination, attracting US$276 billion. Emerging Asia experienced a 20 percent drop in private capital flows, reflecting, in part, that equity flows helped policymakers accumulate foreign exchange reserves, which reached roughly US$1 trillion in China alone. Private capital flows to Latin America, however, more than doubled to US$106 billion in 2007.

Overall, hedge funds performed well in 2007 with average gains reaching 12.6 percent, down only slightly from 2006. Hedge fund returns outperformed traditional stock indexes in 2007, boosted by 20.3 percent average gains in emerging markets. In recent years, an increasing proportion of hedge fund assets have come from institutional investors, versus wealthy clients, shifting the main driver of the industry’s growth.

Fueled largely by the growth of capital-intensive sectors, venture capitalist fundraising and investing in 2007 reached their highest levels since 2001. New opportunities in life sciences and clean technologies expanded market opportunities and the renewable energy sector hosted a record IPO issuance last year led by the US$6.5 billion IPO of a Spanish utilities group and the US $1.2 billion IPO of a Brazilian sugar and ethanol producer. Total investment in clean technology increased 35 percent, boosted by numerous clean technology benchmark indexes gaining more than 50 percent for the year.

Slowdown in Mature Economies

Effects from the downturn in the United States economy weighed on other mature economies – as evident by slowed GDP growth and weak equity market performances in parts of Europe and Asia – and were fueled by three main factors: a cooling housing market, tightened credit availability, and greater volatility and price declines in equity markets. This chain of events impacted both consumers and institutions, impeding their ability to maintain liquidity and operate businesses.

In line with housing market downturns, REIT indexes incurred significant losses globally – in marked contrast to robust gains in 2006. Worldwide equity market performances proved the divergence between mature and emerging markets – the MSCI Global Indexes recorded 0.1 percent and 3.2 percent contractions in Europe and the United States, respectively, in the second half of the year, versus gains of 10.4 percent and 6.3 percent in the first half. The Emerging Market MSCI Global Indexes excelled – led by Latin America in the beginning of the year and the BRIC nations in the second half. Equity market losses in mature economies reverberated throughout international credit markets in the second half of 2007. The economic slowdown in the United States drove a severe depreciation of the U.S. dollar against most major currencies worldwide – the dollar fell 10.5 percent, 15.8 percent, and 17 percent, respectively, relative to the euro, the Canadian dollar, and the Brazilian real.

Since the close of 2007, economic indicators in the United States have deteriorated further; notably: slowing consumer spending, cooling housing markets and softening labor market conditions. A flurry of developments in international credit and equity markets, all stemming from the United States’ economic slowdown, shaped the opening months of 2008. Early on, greater downside risks to growth in the United States, along with the far-reaching implications of tightening international credit markets, weighed heavily on equity markets around the globe. By mid-January, losses incurred in virtually all geographic markets exceeded 10 percent.[3] However, mature markets have stabilized somewhat, bringing average 2008 losses down to roughly 4 percent, and emerging markets have actually reclaimed and exceeded incurred losses, generating an average net gain by mid-April. [4]

Shift to Safer, More Familiar Investments

The diverging macroeconomic environments at either end of 2007 helped define HNWIs’ asset allocation strategies. Building on the optimism of 2006, the early months of 2007 showed HNWIs betting heavily on riskier asset classes. But as the year wore on, and financial market turmoil and economic uncertainty intensified, HNWIs began to retrench, shifting their investments to safer, less volatile asset classes.

The Report found that cash/deposits and fixed income securities accounted for 44 percent of HNWI financial assets, up 9 percentage points from 2006. Fixed income securities saw a 6 percentage point increase in asset allocation, accounting for 27 percent of holdings, up from 21 percent in 2006.

Globally, HNWIs continued to decrease their holdings in North America and showed greater interest in domestic market investments, preferring more familiar ground amid heightened levels of economic uncertainty.

Green Investing Gains Traction

Due to overall heightened interest in the environment, green investing has become widely popular across the globe in recent years, offering investors lucrative returns and an opportunity to become actively involved in social responsibility. An array of vehicles through which to back green initiatives drove robust growth in green sectors in 2007, such as mutual funds, ETFs and other pooled products, or alternative investments. The total investment in clean technology, for example, increased to US$117 billion in 2007, up 41 percent from 2005, with notable strength in wind and solar segments.

The Middle East and Europe were the most environmentally attuned HNWI and Ultra-HNWI populations, with participation ranging from around 17 percent to 21 percent in 2007. In comparison, only 5 percent of HNWIs and 7 percent of Ultra-HNWIs in North America allocated part of their portfolio holdings to green investing. North America was also the only region in which social responsibility was the primary driver of HNWIs’ green investing. Among HNWIs worldwide, approximately half pointed to financial returns as the primary reason for their allocation to green investing.

With future sustainability at stake, the Report projects continued growth in green investments.

Looking Ahead

Despite heightened uncertainty regarding the near-term global outlook, still-strong fundamentals in emerging markets are likely to sustain high levels of growth. The balance between emerging market strength and mature market recovery will likely persist through 2008, with the short-term outlook subject to variability given that aspects of potential risk may still be unknown.

By and large, the global economy has two distinctive obstacles to overcome: inhibitors to growth in mature markets and high risks of inflation in emerging markets. How well these challenges are met will shape global HNWI growth prospects going forward. Given 2007 performances and taking into consideration recent developments in world markets, the Report suggests that global HNWI wealth will grow to US$59.1 trillion by 2012, advancing at a rate of 7.7 percent per year.

Gain even greater insight into the complexity and competitiveness of the global wealth management market with the recently released book “WEALTH: How the World’s High-Net-Worth Grow, Sustain, and Manage Their Fortunes” by Merrill Lynch and Capgemini at www.wealththebook.com.

[1] Individuals with net assets of at least US$1 million, excluding their primary residence and consumables.

[2] Individuals with net assets of at least US$30 million, excluding their primary residence and consumables.

[3] Dow Jones World Indices, SunGard PowerData, accessed April 18, 2008

[4] Ibid.

About Merrill Lynch

Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management. For more information on Merrill Lynch, please visit www.ml.com.

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working - the Collaborative Business Experience – and through a global delivery model called Rightshore®, which aims to offer the right resources in the right location at competitive cost. Present in 36 countries, Capgemini reported 2007 global revenues of EUR 8.7 billion (approximately US$12 billion) and employs over 83,000 people worldwide.

Capgemini provides deep industry experience, enhanced service offerings and next generation global delivery to serve the financial services industry. With a network of 15,000 professionals serving over 900 clients worldwide, we move businesses forward with leading services and best practices in Banking, Insurance, Capital Markets and Investments. For more information, please visit www.us.capgemini.com/financialservices.

Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, today announced the appointment of five new members to its Energy and Utilities team. The new team members bring with them years of Smart Meter and Smart Grid experience that will help Capgemini’s clients prepare for and overcome critical and emerging industry issues around energy conservation and customer experience.

“We’re excited to add these five industry veterans to our energy and utilities team in North America and further increase our Smart Meter and Smart Grid expertise,” said Steve Power, Vice President, energy, utilities and chemicals practice, Capgemini. “These professionals bring more utility industry knowledge and experience that will help our clients address critical issues such as: aging infrastructure, changing regulation, increasing customer demands and the worldwide call to lower carbon emissions.”

Joining Capgemini’s North American Energy and Utilities team are:

Jonathan Burr, Smart Network Solutions Architect

Frank Hoss, Smart Grid Business & Technology Solutions Architect

Jeff Norman, Smart Grid Account Executive

Carol Ray, Project Management Professional, Smart Metering Solutions Architect

Hassan Valji, Manager, Advance Metering Infrastructure and Distributed Generation

These individuals join an established energy and utilities industry specialist team that is dedicated to supporting the sector through thought leadership, participation in industry organizations and events, and dedication to working with the top organizations to research and identify critical business issues that will impact the industry today and in the future.

In the first half of 2008, Capgemini has published the Platts/Capgemini Utilities Executive Study and the first ever nationwide survey of National Association of Regulatory Utility Commissioners (NARUC) state energy regulators across the country. Capgemini is also sponsoring the EEI Annual Convention in Toronto this week, of which one of its Smart Metering clients, Hydro One, is the host utility.

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working – the Collaborative Business Experience – and through a global delivery model called Rightshore®, which aims to offer the right resources in the right location at competitive cost.

Present in 36 countries, Capgemini reported 2007 global revenues of EUR 8.7 billion (approximately US$12 billion) and employs over 83,000 people worldwide. Capgemini has more than 10,000 professionals dedicated to the Energy and Utilities sector and the strongest end-to-end Smart Metering experience in North America. More information is available at www.us.capgemini.com/energy

Global technology, outsourcing and consulting company Capgemini has announced that two of its Business Process Outsourcing executives have been included on FAO Today's list of FAO Superstars of 2008. They are Hubert Giraud, CEO fo global BPO services, and David Kaminski, vice president of finance and accounting. This is the second year that Giraud has been included on the list. 

The finance and accounting outsourcing journal FAO Today has now published the Superstars list for the fourth successive year. The list includes the most influential service providers in the finance and accounting outsourcing sector. 

 

Paul Spence, CEO of Global Outsourcing Services at Capgemini, said:

 

“We congratulate Hubert and David, and the entire Capgemini FAO team for being honored among the top FAO providers in the world. The recognition our BPO executives have received from FAO Today, is a reflection of the high-caliber of industry leaders driving our business, as well of the quality services we provide to our clients.”

Hubert Giraud has been with Capgemini since 1998, and has lead Capgemini’s Business Process Outsourcing practice since 2002. He is a leader in operational, financial and legal management, and is recognized for generating great customer wins and landmark alliances in the finance and accounting outsourcing industry.

David Kaminski joined Capgemini in 2007 as part of the North America BPO management team, and is recognized by the magazine for his background in Finance and Accounting, including leading two of Microsoft’s global financial services business lines.

Technology, consulting and outsourcing company Capgemini announced earlier today that analyst firm Gartner, Inc. placed it in the Leaders Quadrant for customer relationship management (CRM) service providers in North America. 

Gartner released a report titled "Magic Quadrant for CRM Service Providers, North America, 2008" and positioned Capgemini in the "Leaders" quadrant.

Capgemini CEO Lanny Cohen said: 

"It's an honour for Capgemini to be placed by Gartner in the Leaders Quadrant. Building on this evaluation, we will continue developing and implementing CRM solutions that utilize our business and technology resources to address our clients' most complex initiatives, enabling them to transform their customer relationships and experience and to make CRM investments with the purpose of producing direct contribution to bottom-line business results." 

Gartner's "Magic Quadrant" report states the following:   

"The Gartner Magic Quadrant for CRM service providers in North America analyzes the market for CRM consulting and solution implementation services. The relative positioning of vendors in this Magic Quadrant is based on inclusion criteria and key criteria for evaluating ability to execute and completeness of vision... Leaders are performing well today, gaining traction and ‘mind share’ in the market, have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market.”

 

Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, announced today that it has signed a two-year contract extension with Hydro One Networks Inc., a large North American transmission and distribution electric utility, to provide Smart Metering services for the company’s Automated Metering Infrastructure (AMI) program, including, program management, process design, systems, integration and infrastructure management.

This contract reinforces Capgemini’s in-depth knowledge of the market and its industry-leading experience with Smart Metering implementation across North America.

In 2006, Hydro One launched a four-year program to deploy 1.3 million smart meters, a smart network to connect those meters to their data centers, and new and modified applications to process time-of-use billing.

“Hydro One recognized the operational and customer benefits of smart networks at the conceptual phase of our smart meter project,” said Myles D’Arcey, senior vice president, Customer Operations, Hydro One. “Capgemini has worked very closely with the Hydro One team since the inception of our AMI initiative, and their contribution has been integral to the success of the project to date. They have proven to us that they are capable of delivering a comprehensive solution that efficiently meets our program objectives.”

Capgemini was recently awarded the implementation portion of the contract due to the experience and capability of the design team and the completeness of the solution definition. The project will employ approximately 100 Capgemini staff, including global subject matter specialists and a large team of local project delivery professionals, providing the following services to Hydro One over the four-year project lifecycle:

Requirements Management: Subject matter specialist and project management resources to help collect, define and confirm business requirements;

Process Design: Process analyst and project management resources to help define and document new business processes to allow the efficient replacement of current meters, and define future-state operations, including billing operations, meter operations and meter network operations;

Systems Integration: Application development and project management services to plan and execute all systems integration;

Infrastructure Management: Design, installation and testing of new environments for enhanced applications, including application servers, data servers and network;

Customer Contact Center: Contact Center specialists to identify and estimate smart meter impacts to current customer care operations, as well as hiring and training call center staff to respond to anticipated customer needs;

Field Services: Development of meter deployment plans and implementation schedules for teams of field service technicians, as well as development, deployment and support of enabling technologies to drive substantial process efficiencies;

Program Management: Provision of a robust suite of project management services, including integration, scope, schedule, quality, and risk management.

“We’re pleased to work with Hydro One on this market-leading initiative,” said Gary Wasslen, vice president and Hydro One Smart Metering account executive, Capgemini. “Hydro One’s initiative is positioning them as a North American front runner in reaching completion of a full-scale AMI solution.”

About Hydro One

Hydro One delivers electricity safely, reliably and responsibly to homes and businesses across the province of Ontario and owns and operates Ontario's 29,000 kilometer high-voltage transmission network that delivers electricity to large industrial customers and municipal utilities, and a 122,000 kilometer low-voltage distribution system that serves about 1.3 million end-use customers and smaller municipal utilities in the province. Hydro One is wholly owned by the Province of Ontario. More information is available at www.hydroone.com

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working – the Collaborative Business Experience – and through a global delivery model called Rightshore®, which aims to offer the right resources in the right location at competitive cost. Present in 36 countries, Capgemini reported 2007 global revenues of EUR 8.7 billion (approximately US$12 billion) and employs over 83,000 people worldwide.

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, has announced a renewal of their relationship with HSBC, one of the world's largest banking and financial services organizations, for continued collaboration with HSBC’s Global Technology Centers.

For the past 17 years, Capgemini has provided deep industry expertise to support HSBC in several key strategic businesses, including Consumer Lending, Credit Cards, Group Consumer Finance, and Insurance. Capgemini has worked across several technology platforms—from legacy systems to modern Web-based systems—to support and drive HSBC’s business initiatives, including improving customers’ experience, launching new products, meeting compliance needs, and entering new geographies. Capgemini’s Rightshore® footprint, which provides a responsive resourcing model, offers HSBC the right resources of the highest quality, in the right location at competitive cost. Through the renewal, HSBC may use 4,500 man-years of Capgemini resources by the end of 2010.

“We are extremely pleased to continue to service HSBC’s business and engage in new opportunities in additional areas,” said Roy K. Stansbury, global account lead for HSBC and head of global sales at Capgemini’s Financial Services Strategic Business Unit. “By collaborating with HSBC’s Global Technology Centers, we will provide HSBC with additional insights on increasing efficiency and limiting expenditures.”

“Capgemini has played a pivotal role in supporting our business over the years, enabling us to achieve continued global growth,” said John Carr, chief operating officer, HSBC Technology Services. “Renewing our relationship with Capgemini accelerates the benefits of the global delivery model, paving the path for amplified productivity, predictability and speed.”

About HSBC Holdings

Headquartered in London, HSBC Holdings plc serves over 128 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,354 billion at 31 December 2007, HSBC is one of the world's largest banking and financial services organizations. HSBC is marketed worldwide as “the world's local bank.”

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working - the Collaborative Business Experience – and through a global delivery model called Rightshore®, which aims to offer the right resources in the right location at competitive cost.

Present in 36 countries, Capgemini reported 2007 global revenues of EUR 8.7 billion (approximately US$12 billion) and employs over 83,000 people worldwide. Capgemini provides deep industry experience, enhanced service offerings and next generation global delivery to serve the financial services industry. With a network of 15,000 professionals serving over 900 clients worldwide, we move businesses forward with leading services and best practices in Banking, Insurance, Capital Markets and Investments.

For more information, please visit www.capgemini.com/financialservices.

 

To apply for the latest jobs at Capgemini, please visit out IT consulting job board.   

Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, has released the results from the first broad-based opinion survey of state energy regulators across the country.

The survey was conducted with the support of the National Association of Regulatory Utility Commissioners (NARUC) in an effort to develop a comprehensive national energy perspective. According to the survey results, the majority of commissioners recognize the key role the energy industry is expected to play in reducing carbon emissions; however, their overwhelming concern is the need to increase generation capacity.

In addition, 93 percent of respondents anticipate federal climate legislation and have determined that most new base load generation decisions ahead of this carbon legislation are risky.

Reacting ahead of legislation could possibly affect the overall cost of new coal generation, emphasizing an uncertain future for coal without clean coal technologies.

“As this study makes clear, the uncertainty surrounding our nation’s energy policy is doing more harm than good,” said Marsha Smith, president of NARUC and Idaho commissioner. “Our members understand how this uncertainty is impacting energy supply and costs borne by ratepayers. NARUC is pleased to have contributed to this important study, as this collaboration with Capgemini adds critical perspectives and solutions to the energy issues facing our country.”

Survey respondents also ranked, from a national and state perspective, the top five energy priorities facing the industry which included generation capacity, reducing Greenhouse Gas (GHG) emissions, transmission capacity, energy efficiency and generation fuel cost with generation capacity being the number one priority from both perspectives.

Steps Toward Improving Generation Capacity

While the opinions of the commissioners vary on exactly which base load generation fuel is most desirable long term, a combined 68 percent of those surveyed indicated that nuclear and clean coal are the best base load fuel choices for new generation, while only 9 percent preferred natural gas, in part because of its lower carbon output and shorter construction cycle.

“Given the anticipated impact of legislation on generation fuel options, not having proper guidelines in place continues to hamper regulatory clarity in the interim, creating a gap between viable long-term solutions and what regulators can approve while they wait for Congress to act,” said Roy Ellis, regulatory relations leader at Capgemini. “The common issues identified in the NARUC survey signal a continuing short-term preference for natural gas as a base load fuel and a rapid move to expand conservation and energy efficiency to slow growth in demand.”

Most commissioners agreed they would like to see more renewable energy, more conservation and more energy efficiency, but they do not consider these steps as definitive alternatives to base load. While energy efficiency and conservation – the Negawatt, as it is referred to by members of the energy industry – were seen as part of an overall strategy to reduce GHG emissions, renewable energy, nuclear energy and clean coal were ranked among the top five solutions in reducing carbon emissions.

Rising Prices Remain a Concern

The survey findings also reinforced the important role electricity plays in the U.S. economy and regulatory concern over the impact of rising prices. There is a growing consensus among regulators that energy prices will rise, due in large part to the transition from cheap coal as a fuel to cleaner, but more expensive alternatives including nuclear, clean coal, natural gas, and renewable energy.

In fact, 69 percent of respondents support time-of-use or dynamic pricing for all customer classes, which will expose the ratepayers to the true cost of their energy consumption decisions, while creating the technical infrastructure necessary to distribute those costs across a wider segment of society.

Striving Toward a Common Purpose

Members of NARUC recognize that collective voices are needed at this critical time in order to guide national policy. Eighty-six percent of respondents would support greater national and regional coordination between NARUC members, suggesting members recognize how critical a consensus is on national energy policy.

The NARUC Membership Energy Survey was published by Capgemini in May 2008. The survey was conducted between December 4, 2007 and February 15, 2008 and achieved an 83 percent national participation rate that included 41 states and the District of Columbia.

The survey questions were compiled with input from the NARUC executive staff and commissioners from five different states.

To download the full study results, please visit: www.us.capgemini.com/naruc

About NARUC

NARUC is a non-profit organization founded in 1889 whose members include the governmental agencies that are engaged in the regulation of utilities and carriers in the fifty States, the District of Columbia, Puerto Rico and the Virgin Islands. NARUC's member agencies regulate telecommunications, energy, and water utilities. NARUC represents the interests of state public utility commissions before the three branches of the Federal government.

About Capgemini

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working - the Collaborative Business Experience - and through a global delivery model called Rightshore®, which aims to offer the right resources in the right location at competitive cost. Present in 36 countries, Capgemini reported 2007 global revenues of EUR 8.7 billion (approximately US$12 billion) and employs over 83,000 people worldwide.

To see the latest job openings at Capgemini, please visit our job board.

Capgemini, one of the world's leading technology, consulting and outsourcing services providers, has announced an asset purchase agreement with Advantage Consulting Group, a professional services company founded in 1995 that specializes in software installations, software data conversions and enhancements and provides services mainly in the healthy and insurance sector.

 

The deal makes it possible for Capgemini to now offer a wider, improved range of cost-effective, low-risk conversion solutions to businesses in the finance sector. The enhanced data conversion solutions will help clients consolidate and implement new information technology systems.

 

“The deal with Advantage demonstrates Capgemini’s continues commitment to its financial services business. The addition of Advantage’s tools, senior staff and depth of experience will give us a clear differentiator in the sector that not only enhances our ability to service existing insurance clients, but also enables us to expand into other industries, including banking, capital markets and cards,” says Raymond Spencer, chief executive of Capgemini’s Financial Services Strategic Business Unit.

John Barr, vice-president of Capgemini’s Life, Health and Annuity Portfolio, adds: “With a toolset specifically designed for insurance data conversion, Advantage has become a leader in consolidating and migrating insurance policy data from legacy to new systems. This niche service will be delivered, building on the 25 member team joining us along with this transaction, through Capgemini’s Rightshore® capabilities — a global network of onsite, onshore, nearshore and offshore resources —  giving our clients the tools and services needed to effectively convert data.”

Advantage Consulting Group President and CEO Richard Knutson says: “Consolidating and implementing new IT systems can be one of the most expensive and risky projects for any type of business. Our conversion method, customized for each project, verifies that the correct data is properly loaded into new systems, enabling our clients to focus on their core business, without worrying about data loss.” 

 

To browse the latest job openings at Capgemini, please visit our job board.

Capgemini CEO Paul Hermelin said today that the IT consulting company was optimistic about revenue growth prospects in 2008 after having witnessed only limited indicators of industry slowdown in certain sectors in Europe.

The company's business operations in the U.S., however, are “extremely vibrant” according to Hermelin. He added that the consultancy would “deliver the first half on budget” and said he was optimistic about the second half as well:

“We think the second half will be positive. We no longer run a risk of a flat or slightly negative second half.”

Capgemini, the leading computer consulting firm in Europe, chalked 8. billion euros in sales in 2007. The company's experts have predicted a 2-5 percent sales growth in 2008.

To browse the latest job openings at Capgemini, please visit out IT consulting job board. 

Global technology, consulting and outsourcing firm Capgemini has been successful in increasing team productivity of the North American Marketing Services branch by using a new project management solution from the software provider Wrike.

Wrike offers an excellent platform for task organization, data management, collaboration, smart notifications, Gantt charts, e-mail integration and time-tracking in a single workspace and uses a highly efficient web interface that can save managers four hours per week.

This certainly comes in handy to a global consultancy like Capgemini, one that gets a large number of client requests every week.

Once the marketing services team started using Wrike's integrated project management software, they were able to streamline the support request management. Consequently, their on-time delivery rate and customer satisfaction grew to almost 95 percent.

Daniel Stevens, Director of Marketing Services at Capgemini North America, said:

“Wrike made the process evolve… Today, we simply add Wrike’s e-mail address to the e-mail message… and the project/task automatically appears in our team’s workspace.”

He added: “In addition to the integration capabilities with our internal request process, the biggest benefit with Wrike is the high level of visibility of the support requests that channel into our team. Wrike lets us spend less time on project management and more time on providing strategic marketing services to our internal clients.”