Ahead of the inaugural ProcureCon Financial Services meeting, which takes place on 26th & 27th September in London, several of the event’s keynote speakers share some of the projects they’re currently working on, as well as the challenges facing them in 2012:

1. PRESS RELEASE
Date of Issue: 16th July 2012
For Immediate Release
ProcureCon Financial Services’ speakers give insight into the projects
they’re working on, as well as the challenges facing them in 2012
th
Ahead of the inaugural ProcureCon Financial Services meeting, which takes place on 26 &
th
27 September in London, several of the event’s keynote speakers share some of the
projects they’re currently working on, as well as the challenges facing them in 2012:
Duncan Brock, Chairman, CIPS
What do you foresee as being the key challenges for procurement professionals
working in the financial services sector for the next 12 months?
All FS companies are being challenged to reduce their cost base, and so there will
continue to be a high focus on the need to deliver cost reductions. In some
companies the targets being set are at a higher level than they’ve had to deliver in the
past.
Supplier management gets discussed in many FS companies but more needs to be
done to really embed it as a way of working to maximise the value delivered by the
major suppliers – particularly where there are outsourced services
Engaging internally with stakeholders, particularly where there is a large central
procurement team, is a key to success in FS. Stakeholders are becoming more
demanding and procurement professionals need to continue to improve their
stakeholder management and engagement skills.
How do you think the procurement profession will have to change within the next 12
months?
See my last point above – improved stakeholder management and engagement
Risk management and sustainability are on the strategic agendas of businesses –
procurement needs to demonstrate that it is embracing these challenges as well as
continuing to deliver the required cost reductions.
Luca Guzzabocca, Director of Procurement, Logistics, HSE and Security
Management, Banca Monte dei Paschi di Siena S.p.A.
Key project you are currently working on:
Cash transport and management process review, paperless bank, Real Estate associated
costs
What you foresee being your key challenges for the next 12 months:
“Ultra-efficiency” initiatives: more than in the past 3 years company is looking at
extraordinary results in saving, expenses reduction and processes review.
Environmental, social and ethical Sustainability programme: we anyway need to
balance our commitment in sustainability with our economic results

2. How you are overcoming these challenges:
Full day-by-day governance on compliance and a strong interfunctional team working
Regular and constant consideration of sustainability criteria in any initiative
Alan McQuade, SVP, EMEA Supply Chain Management Executive, Bank of
America Merrill Lynch
Key project(s) you are currently working on:
At Merrill Lynch, and across much of the financial sector, Vendor oversight across the lines of
businesses and regions is receiving a much greater Regulatory focus than previous years.
This is leading to a range of Internal programmes and related change activity to ensure the
Regions and businesses have clearly evidenced controls, routines, oversight and
understanding of their vendor and outsourced activity, and in terms of ensuring the correct
escalation and committees are in place around such activity. The EMEA Supply Chain group
are central to the implementation activity around this.
What you foresee being your key challenges for the next 12 months:
The lack of growth in the Eurozone, and the reducing revenues across wholesale and
investment banking has created a more visible and significant pressure on expenses, across
the Bank. This, combined with the increasing Regulatory focus around 3rd party activity is
leading to an environment whereby the group have to come up with new and innovative ways
to reduce our 3rd party cost base, whilst also ensuring a stronger control environment across
all Regions.
How you are overcoming these challenges:
Rollout of enhanced vendor management routines, especially in our emerging markets
environment, as well as close partnering with our business areas to manage down 3rd party
reduction initiatives across a range of spend categories and business processes.
Please visit www.procurecon-finance.com to view the final agenda and explore some
of the projects our other speakers are currently working on.
##Ends##
Notes to editors
1. For more information about ProcureCon Financial Services 2012 and to request the
conference brochure, please email procurecon@wbr.co.uk
2. All media partnership enquiries and requests for press passes should be directed to
Simon Anderson, Marketing Director for the ProcureCon portfolio:
simon.anderson@wbr.co.uk
3. ProcureCon Financial Services 2012 is part of the ProcureCon portfolio, which has
been producing high calibre events for Europe’s procurement leaders since 1997.
4. ProcureCon is part of Worldwide Business Research, one of the world’s leading
sources of strategic business intelligence and part of the PLS group. For more
information about Worldwide Business Research, visit www.wbresearch.com