News round-up: Capgemini, Cognizant, FTI

by Vault Consulting Editors | March 09, 2011

  • My Vault

Here we are, meeting again for another Wednesday edition of the news round-up. Don't worry, there's no mudslinging going on here. But it would probably be a lot better if there were.

Capgemini has made the most of yesterday's International Women's Day festivities by announcing developments on two fronts. First, CEO Paul Hermelin penned his signature on a UN Statement of Support of Women's Empowerment Principles pledge that binds Capgemini to making diversity improvements with regards to gender. The UN Global Compact and UN Women were behind the pledge, unveiled at an event called "Equality Means Business: Putting Principles into Practice." Hermelin was among many high-profile CEOs from across the world that were invited join the UN's commitment to promoting "7 steps to empower women in the workplace, the marketplace, and the community." Capgemini also marked the occasion with a major worldwide marketing spree, featuring "videos showcasing high achievers, blogs, social media discussions, and numerous networking events." Better yet, the firm's Australian arm also chose International Women's Day to promote a pair of women to the role of vice president, facilitating the claim that Capgemini Australia's leadership is 40 percent female. The global firm also gave a nod to its top female executives, naming seven women—including Capgemini CEOs in the firm's UK, India, China and Norway divisions—among its highest achievers.

Cognizant made headlines this hump day as its stock valuation hit a 52-week high amid strong demand and optimistic predictions for near future. Cognizant shares traded at $77.81 yesterday, the firm's highest ever valuation, and investors rushed to change their ratings to "buy" in recognizance of the firm's bullish growth. The firm reported strong revenue and headcount (only recently breaking the 100,000 employee mark) growth at the end of FY 2010 as it looks to chase down high-flying competitors Accenture and Capgemini.

As reported in an earlier edition of the news round-up, the county government in Jefferson County, Alabama (home to Birmingham), was strongly considering a host of consultancies (including Alvarez & Marsal, FTI Consulting, PricewaterhouseCoopers and Huron Consulting Group) to save it from what would be the largest municipal bankruptcy claim in the history of modern civilization (really). Today, the Birmingham Business Journal reports that FTI Consulting is the lucky winner…of the most daunting government turnaround project since Monitor tried to whip Qaddafi into shape. Jefferson County faces a ridiculous $3.2 billion in debt, so FTI consultants are being realistic. Alongside a financial turnaround roadmap, a county rep says that "the firm will also prepare a bankruptcy plan" in case the turnaround effort proves too much to bear.

For more information:
Capgemini Signs UN Global Compact's CEO Statement
The Australian
Cognizant Hits New 52 Week High
Bankruptcy Still on the Table for JeffCo

Filed Under: Consulting

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