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Wipro appoints Frederic Abecassis as Head, BFSI Industry Sector, Southeast Asia
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Wipro Limited (NYSE: WIT) has appointed Frederic Abecassis as the Head of Banking, Financial Services & Insurance (BFSI) for Southeast Asia. With over 20 years in digital transformation and financial services consulting, Frederic will lead business growth in the rapidly evolving sector. His focus will include helping clients achieve digital transformation and ESG goals. The leadership change is expected to strengthen Wipro's ecosystem of technology partners and enhance client engagement in the region amidst ongoing digital disruptions.
Positive
Appointment of Frederic Abecassis expected to enhance leadership in BFSI sector.
Frederic brings over 20 years of industry experience, likely strengthening client relationships.
Focus on ESG goals may appeal to socially responsible investors.
Negative
Concerns about continuity in leadership as Frederic transitions from Capgemini.
SINGAPORE & HONG KONG & BANGALORE, India--(BUSINESS WIRE)--
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced the appointment of Frederic Abecassis as the Head of Banking, Financial Services & Insurance (BFSI) Industry Sector, Southeast Asia.
In an increasingly hyperconnected world, evolving consumer behavior is driving rapid digital transformation across Southeast Asia’s BFSI sector. Frederic will spearhead Wipro’s BFSI business growth across this region, including Hong Kong. He will partner with and help clients achieve their core business and digital transformation goals, while realizing their topline, bottomline and ESG (Environmental, Social & Governance) ambitions. Frederic will also help strengthen Wipro’s ecosystem of technology partners in the region.
A digital transformation pioneer and an expert in Financial Services (FS), Frederic brings over two decades of experience in leading strategy and business & technology consulting across Europe, the Middle East, and Asia. He has been supporting leading FS institutions to shape and deliver large transformation programs, right from strategy to execution.
“We are excited to welcome Frederic to our leadership team. Driven by digital disruptions, the BFSI industry across Southeast Asia is rapidly evolving and continues to be on a high growth trajectory. With Frederic’s vast experience and deep expertise, I am confident of strengthening our position as a market leader in the region, deepening our engagement with existing clients and establishing a thriving ecosystem with our technology partners,” said Badri Srinivasan, Managing Director - Southeast Asia, Wipro Limited.
“Financial Services organizations are operating in an exponentially changing world. More than ever, the industry is facing an absolute need, but also a unique opportunity, to shape the future by partnering in new ways to accelerate digital transformation, innovate, increase efficiencies, and serve both economic and societal priorities. It is a privilege to join Wipro, an organization that is not only a leading transformational partner to the world’s pre-eminent FS institutions, but also a model of social good. I am excited about the journey ahead, leading our BFSI business in this diverse region that I am deeply passionate about, driving value for our clients, growing our talent base, and contributing to Wipro’s growth,” said Frederic Abecassis.
Prior to joining Wipro, Frederic was with Capgemini Invent, where he held various leadership roles, including FS Strategic Deals Lead in France, Head of FS Middle East, and Managing Director of Hong Kong & Southeast Asia. He holds a Masters in Management & Finance from EDHEC Business School in France. Frederic is based in Hong Kong.
About Wipro in Southeast Asia
Southeast Asia is one of the six focus regions that comprise Wipro's APMEA (Asia Pacific, Middle East, India and Africa) Strategic Market Unit. Wipro has been present in Southeast Asia for over two decades, having partnered with leading public and private sector enterprises across multiple industry verticals in their business transformation and digital journeys. Wipro also has a presence in the region through its acquired entities – Capco, Designit, Topcoder and Rizing. In line with our growth ambition for the region, we continue to invest in localization, building talent at scale, while strengthening our partnerships and knowledge of regional demands to offer differentiated services and experience to our clients. Wipro has been recognized by the Top Employers Institute as a Top Employer in Singapore for 2022.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world.
For additional information, visit us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
