Press Releases

Genpact Limited (NYSE: G), a global leader in designing, transforming, and running intelligent business operations, announces the formalization of the Genpact Research Institute for Intelligent Operations. The Institute is a specialized think tank harnessing the “crowd-sourced” insights of Genpact – as one of the largest enterprise operations providers in the world – together with its ecosystem of clients, partners, and thousands of process operations experts. The Institute has already been operating for over 12 months, ensuring that Genpact generates a continuous feedback loop when partnering with clients to solve their business challenges.

The Institute’s mission is to help companies run better by extending the art of the possible of advanced operating models for business process operations, from back to front office, across nine industries. The goal is to make enterprises’ operations more intelligent by weaving technology and analytics into business processes and operations. The Institute oversees external collaborations with leading academic institutions such as MIT, as well as the engagement of global experts sourced through Genpact’s proprietary operations solutions marketplace.

Cloud-based and mobile applications, advanced analytics, and powerful collaboration tools multiply the effect of well understood levers such as shared services, outsourcing, global delivery and process reengineering – and looking at them holistically will generate material impact. The Institute will give leaders with an operational mindset a practical place to understand what works and can be applied today to run their enterprises’ operations better.

Some notable research outcomes of the Institute to date have been the Business Process Operations compendium, Target Operating Model for Finance, Volatility and Adaptation Index, Data-to-action-to-insight, and Rigorous Business Case for Advanced Operating Models, as well as the advancement of other practices documented by Genpact Insights. One particularly exciting result has been theoperations network analytics solutions built on methods developed by MIT.

“There are very few sources of insight for leaders who are tired of often abstract visions and product vendors’ hyperbole, yet discern the strategic value of process operations and want to make technology and analytics yield material results,” said Gianni Giacomelli, senior vice president and chair of the Institute, Genpact. “Thanks to our work we observe and now share practical approaches to transformation that shrink the time to results and enable operational agility needed to run effectively in these uncertain and volatile times.”

DataMentors, LLC, a full-service data quality, data management and business intelligence provider, today announced that Gary Skidmore, former President and COO of Harte Hanks, has been retained by DataMentors as a Strategic Advisor.

DataMentors recently launched its Data-as-a-Service (DaaS) offering, a solution enabling businesses to drive immediate ROI with affordable and real-time data. As Strategic Advisor, Gary will advise DataMentors’ leadership on strategies for growth and value creation to help clients take full advantage of the new opportunities DaaS brings to the table.

“With over 38 years’ experience in data-driven and digital marketing, Gary brings invaluable experience and thought leadership to DataMentors,” said Anders Ekman, President of DataMentors. “As DataMentors forges ahead in bringing game-changing solutions to market, Gary’s knowledge will be instrumental in supporting our strategic objectives.”

Gary provides corporate development, product creation and go-to-market advice to private equity and venture capital backed adtech software and information services companies.  Before beginning his consulting practice, he was COO of The Dachis Group, a social marketing software company.  Gary also previously served as President and COO of Harte-Hanks, a global, multi-channel database marketing company.

“Data-as-a-Service has enormous potential to completely transform businesses,” said Bob Orf, Chief Executive Office of DataMentors. “DataMentors is highly committed to making DaaS accessible to businesses across all industries, and Gary’s ability to drive growth and innovation will continue to move DataMentors forward on a positive path.”

DataMentors holds an outstanding reputation in data management, data quality and business intelligence, serving clients in banking, manufacturing, retail, and other industries.  In addition to a steadily expanding roster of satisfied clients, DataMentors has been named to the highly competitive Gartner Magic Quadrant seven years in a row for data quality excellence.

ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced a new service to help hedge funds and mutual fund companies manage liquid alternatives. Liquid alternatives are investment products that feature an alternative strategy that has been packaged into a mutual fund, ETF or other exchange-traded product.

Developed in cooperation with Portfolioshop Inc., a software development and data management firm based in New York, this new service provides daily reconciliation of complex data between the three parties that are required to support liquid alternatives: the trust bank, the prime broker and the fund administrator. This reconciliation helps to ensure greater accuracy and reliability of daily reports that can range from VAR analysis and stress tests, to details on performance attribution and analysis.

“Reconciliation between multiple custodians and administrators can be a big expense for any firm, especially for 40 Act registered funds that are required to use certain types of custodians. Our new service significantly simplifies this process, saving our clients time and money, and reducing staffing needs,” said Douglas M. Nelson, ConvergEx Group executive managing director. “We are excited to be offering our clients innovative new tools for the burgeoning liquid alternatives market.”

ConvergEx Prime Services is an industry‐leading provider of integrated prime services to hedge funds, family offices, mutual funds and Registered Investment Advisors. It offers advanced technology, global execution and reporting tools provided by multiple prime custody options through Goldman Sachs Execution and Clearing, L.P., J.P. Morgan Clearing Corp and Pershing LLC. Its customers are exposed to a broad base of long‐standing customer relationships with an experienced team providing high quality service and unique advantages in the marketplace.

Ritchie Bros. Auctioneers Incorporated (NYSE & TSX: RBA, the “Company” or “Ritchie Bros.”) today announces several changes to its reporting structure and senior management team.

Having completed an extensive review of Company operations and historical performance, Ravi Saligram, Chief Executive Officer, is now in the process of developing a strategic roadmap for the Company, which will be disclosed on January 12, 2015, at an Investor and Analyst Day in New York.  Mr. Saligram is committed to driving shareholder value and will initially focus on reinvigorating revenue and earnings growth, optimizing capital allocation and structure, and improving Return on Net Assets (RONA).

To better align Company leadership with these focus areas, Mr. Saligram is implementing a new organizational structure with the following objectives:

• Put in place regional business leaders with a strong general management focus to drive sustainable, profitable growth and cash flow of the core auction business
• Implement a more localized and decentralized structure to be more responsive and agile as a company, meet local customer needs, and foster an increased sense of urgency
• Become more externally focused, and tailor ‘go to market’ approaches based on customer needs and geographic differences
• Put in place a strong data-centric, customer focused leadership team to exploit new channels, models and services and increase market share
• Leverage vast customer and equipment data, and improve analytical rigor to develop powerful insights which will sharpen our strategic focus  and strengthen our customer value proposition

Effective immediately, three regional business leaders have been appointed to oversee and drive regional performance.  Randy Wallhas been appointed President, Canada; Jeroen Rijk has been appointed SVP, Managing Director, Europe; and, Kieran Holm has been appointed VP, Managing Director, Asia Pacific.  Reporting structures into these regional leaders will transition over the coming weeks, and are expected to be in place early in 2015.  The regional leaders will oversee all sales, operations, field marketing and support functions, with full P&L and cash flow responsibilities in their respective regions, and will report into Mr. Saligram.  The Company will shortly initiate a search for the role of President – U.S. and Latin America.  In the interim, Mr. Saligram will directly oversee this business.

Ritchie Bros. is also pleased to announce the appointment of Jim Barr as Group President, Emerging Businesses, Brand Innovation and Technology Services.  In this role, Mr. Barr will oversee EquipmentOne, Ritchie Bros. Financial Services, and the Company’s marketing and information technology departments.  He will also be responsible for developing new revenue channels through complementary products and services.  Mr. Barr was most recently Executive Vice President and Chief Digital Officer at OfficeMax, where he led the development of a digital and omni-channel transformational growth strategy and roadmap, turning digital services into a growth engine for the company. Previously, Mr. Barr held roles as President, Online, at Sears Holding Corporation; General Manager, Commerce & Marketplaces at Microsoft Corporation, where he launched and led several marketplace businesses, including comparison shopping, auctions, online classifieds listings and the Windows Marketplace; and General Manager, Business Development, MSN, at Microsoft Corporation.  He will divide his time between Vancouver, Pittsburgh, Houston and Austin, where his teams operate.  Kenton Low, Chief Marketing Officer, Bill Cooksley, SVP Information Technology, and Chris Connell, President of EquipmentOne, will report to Mr. Barr.  He will also work closely with Jim Case, CEO of Ritchie Bros. Financial Services.

Randy Wall, President of Canada, will be based out of Vancouver.  He was most recently Chief Productivity Officer, and prior to that,President and Chief Operating Officer, having rejoined the Company in 2013.  Jeroen  Rijk, SVP and Managing Director of Europe, will be based out of the Company’s Breda, Netherlands, office.  Jeroen has over 19 years of experience at Ritchie Bros., and was most recently Head of Sales for all of Europe.  He was instrumental in growing Ritchie Bros.’ presence in southern Europe and recruiting key leadership roles for the region.   Kieran Holm, VP and Managing Director of Asia Pacific, will be relocating to Japan and will oversee the Company’s Asia and Australia performance.  Most recently, Mr. Holm was a regional VP of Sales in the U.S. and previously pioneered Ritchie Bros.’ expansion into new market segments.  Mr. Holm received his MBA from McGill University (Tokyocampus) and has previously spent many years living in Japan.

Karl Werner will take on the additional responsibility of Managing Director, Middle East on an interim basis.  In his primary role as Chief Operational Support and Development Officer he will be strategically focused on global operational excellence, driving operational innovations and overseeing online operations.  Specifically, Mr. Werner will be responsible for developing and implementing company-wide operational processes, metrics and standards; ensuring our operational competencies remain a distinct competitive advantage; promoting the use of operational best practices globally; ensuring global consistency in the customer experience; and, supporting the regional business leaders to improve RONA. Mr. Werner will continue to report to Mr. Saligram.

As part of the new organizational structure and priorities for the Company, the corporate CFO role will be expanded to place more emphasis on capital allocation, and will also oversee the Company’s legal, internal audit and risk management activities.  In this context, Rob McLeod, current CFO, will transition to a new role as CFO, Americas, in 2015, and will be responsible for the financial functions in Canada, U.S., and Latin America.  Rob will play an integral role in partnering with an externally hired President – U.S. andLatin America, to unlock the full potential of the key U.S. market.  Mr. McLeod’s vast knowledge of operations and financial matters at the Company will add tremendous value to this strategically important position.  The Company will initiate a search for the new corporate CFO shortly.  Mr. McLeod will continue to act as the Company’s CFO until the position is filled.

Both Mr. Werner and Mr. McLeod will continue to be based out of the Company’s Vancouver headquarters.

As part of this reorganization, Steve Simpson will assume the role of Chief Sales Officer, Global Key Accounts – focusing on securing large special situation contracts, and driving incremental business development.  Mr. Simpson will also have a key role in corporate development initiatives targeted to expand the Company’s core auction business in priority sectors, and will oversee the Company’s Pricing and Appraisals department.  He will continue to be based out of Ritchie Bros.’ Fort Worth, Texas, office, and will manage a focused international team, exclusively dedicated to special situation business development, such as securing contracts for full corporate dispersals, international mine closures, and large scale oil and gas asset redeployment.

“Our new regional structure, with its clear lines of accountability and performance focus, will be foundational in reinvigorating growth through disciplined execution.  I am confident that with the caliber of our new Executive Team we will be able to improve returns and drive shareholder value,” noted Ravi Saligram, Chief Executive Officer.  “I’m also delighted to welcome Jim Barr to Ritchie Bros. as Group President.  He has an exceptional track record of success in growing multi-channel businesses by uniquely leveraging core business channel capabilities and connecting them to the digital world.  His skill set makes him an ideal leader to realize the full potential of EquipmentOne, scale Ritchie Bros. Financial Services and pioneer new products, models & services.”

It is also with great regret that Ritchie Bros. announces that Bob Armstrong will be leaving the Company at year end.  During his 18 years with the Company, Bob played a leadership role in many key projects, including our IPO, the development of our internet bidding service and the recent launch of our EquipmentOne online marketplace.  He held many executive positions during this time, including CFO, COO and, most recently, Chief Strategic Development Officer.

FreeATM, an advertising-driven surcharge-free ATM network, unveiled today its first phase of FreeATMs across New York City. With a focus on merging marketing with consumer commerce, FreeATM’s footprint in phase one will cover twenty-five (25) locations in three boroughs including Manhattan, Brooklyn & Queens.

“New York thrives on two things: coffee & cash. Both are the lifeblood of this city. However, in communities where consumers don’t have access to their bank, consumers are left with only one option, paying a fee at independently owned and operated ATMs. For the first time, consumers now have a surcharge-free option at these independent ATMs. Any customer from any bank can use our FreeATMs and save $1.00 to $3.00 by simply watching an advertisement from a targeted brand. We hope that our customers in turn, spend locally within their communities, strengthening our great city,” notes Co-Founder & CEO, Clinton Townsend.

With strong demand from retail stores across New York City, FreeATM has already enrolled a total of 55 locations in the weeks leading up to today’s announcement. The next phase of 30 locations will be available to consumers in December, 2014.

Brands and their agencies seeking to create awareness, call to action, and/or cause marketing campaigns are provided a unique set of attributes from which to target and engage specific audiences based on geographic location, venue type, day part, demographic, & socioeconomic status.

Alongside advertising content, consumers will stay informed while on the go about national and local news through a partnership with Metro.US, whereby content will be delivered to FreeATM’s toppers daily.

FreeATM is made possible through the support of forward thinking investors led by Ithaca-based, Cayuga Venture Fund (CVF), including: Mogility Capital, Kima Ventures, Cornell University’s BR Venture Fund, TJNS Capital and a select group of angel investors spanning private equity, asset management, and consulting.

“Cayuga Venture Fund is thrilled to back an offering that provides such unique value by disrupting the status quo,” says Ken Rother, Venture Partner at CVF. “FreeATM’s vision provides consumers with saving and digital advertisers with a new out home screen, all while providing ATM operators and location owners with a revenue stream backed by a service that consumers will embrace instead of the current negative feelings toward high fee ATMs.”

Core to FreeATM’s market strategy is filling the void of a true software platform that allows for seamless media planning, content management, and distribution to digital screens of ATMs and Toppers. As part of the initial launch, FreeATM has secured partnerships with three of the Tri-State area’s largest ATM operators who will integrate the company’s software and operate FreeATMs in New York City as part of the beta; each with existing portfolios ranging from 1,000 – 3,500 ATMs. The beta will run inNew York City for the first 250 ATMs before expanding regionally to Boston, Philadelphia and Washington D.C.

Research and Markets has announced the addition of the “Ballistic Protection Market by Type, sub-type , & by Application – Global Forecasts & Analysis to 2014 – 2020” report to their offering.

The global ballistic protection market was valued at $7.90 billion in 2013 and is expected to reach $11.03 billion by the end of 2020, to grow at a CAGR of 5.11%.

This report segments the ballistic protection market on the basis of aircraft type, regions, and countries. Further, it contains revenue forecasts and analyses technological trends that are predominant in this market. The geographical analysis contains an in-depth classification for North America, Europe, APAC, Latin America, Africa, and the Middle East, which contains major countries that cover the respective markets. The sections and sub-segments in the report would contain drivers, restraints, opportunities, challenges, and current market trends that are expected to revolutionize the ballistic protection market.

Key players profiled in the ballistic protection market report are Teijin Limited (Japan), Honeywell International (U.S.), BAE systems (U.K.), Royal TenCate Corporate EMEA (Netherland), E.L. Dupont DE Nemours & Co. (France).

The ballistic protection market can be segmented into two major types-personal protective equipment and vehicle armor. Personal protective equipment (PPE) consists of protective clothing, helmets, goggles, and other equipment designed to safeguard the personnel’s’ body from external injuries. PPE protects the body from hazards that include physical, electrical, heat, chemicals, and bio hazards. PPE in the defense industry can be further segmented into soft armor, hard armor, and protective head gear.

Soft body armor is used in regular bullet and stab resistant vests, and hard armor, which is rigid reinforced body armor, and is, used in high risk situations by police tactical units and combat soldiers. Protective head gear mainly refers to high-quality helmets made of ballistic materials such as Kevlar and aramid, which possess excellent bullet and fragmentation stopping power. Vehicle armor refers to the armor plating used mainly in military vehicles to withstand the impact of shrapnel, bullets, missiles, or shells, protecting the personnel inside from the enemy attack.