Bain & Company expands Financial Services practice in South Africa; two partners join Johannesburg office

FOR IMMEDIATE RELEASE

BAIN & COMPANY EXPANDS FINANCIAL SERVICES PRACTICE IN SOUTH AFRICA; TWO PARTNERS JOIN JOHANNESBURG OFFICE

Innocent Dutiro brings extensive regional financial services and operations expertise; Fabrice Franzen, banking turnaround expert, joins from Paris office

Johannesburg – February 1, 2012—In step with the quickening pace of South Africa’s financial industry, Bain & Company has appointed two partners, Innocent Dutiro and Fabrice Franzen, to its Financial Service Practice in South Africa. The appointments were announced today by Vittorio Massone, managing partner of the firm’s Johannesburg office.

Mr. Dutiro brings more than a decade of experience working with the region’s financial services industry and more than 25 years’ experience in consulting. Mr. Franzen, a Bain partner relocating from the firm’s Paris office, is another financial services veteran and an expert in retail, commercial and private banking.

“We are growing our team of financial specialists at a time of global challenges and unique opportunities for South Africa’s leading players,” Massone said. “The strong capital positions of South Africa’s leading banks and financial services companies gives them a rare window of opportunity for local and regional growth,” Massone said. “Innocent and Fabrice are both seasoned financial services experts who will help us bring to our clients capabilities to support their expansion strategies, operations streamlining and results delivery.”

Through their careers as international consultants to financial institutions, Mr. Dutiro and Mr. Franzen have significant accumulated experience in solving the toughest strategic and operational challenges of their clients.

Mr. Dutiro has extensive experience working with retail and corporate banks and life insurance institutions in Southern Africa. His work has encompassed growth strategy development, channel management, distribution, organizational design, IT strategy and cost reduction. A naturalized South African, he is a chartered mechanical engineer and earned an M.B.A. from University of the Witwatersrand in Johannesburg. He joins from another worldwide consulting firm, where he was a partner leading the financial services practice in South Africa. He earlier served as chief executive of a Johannesburg-based consulting firm and as a senior executive in one of South Africa’s large retail banks.

Mr. Franzen joined Bain in 2006 and earlier advised financial services institutions for another international consulting firm. At Bain he has been particularly active in supporting international growth strategy, M&A and post-merger integrations for large European and Australian retail and commercial banks, as well as private banks and insurance companies. He has significant expertise in retail banking top line improvement (including customer proposition design and delivery and distribution) and operations streamlining. He is fluent in five languages and graduated with a Bachelor of Arts degree from the Solvay Brussels School of Economics and Management.

“This strategic move from Bain & Company in the financial services industry – South Africa’s largest sector – is consistent with our ambition to be the first choice premium consulting firm in Southern Africa,” added Massone. “Our goal is to continue the significant growth we have enjoyed over the last two years driven by our expertise in advising Africa’s leaders across its key industries – including mining, financial services, telecommunications and media, retail, private equity and the public sector.”

Editor’s Note: For additional information about Bain’s Johannesburg office, or to schedule an interview with Innocent Dutiro or Fabrice Franzen, please contact Dan Pinkney at dan.pinkney@bain.com or +1 646 562 8102.

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About Bain & Company, Inc.

Bain & Company is the management consulting firm that the world's business leaders come to when they want results. Bain advises clients on strategy, operations, technology, organization, private equity and mergers and acquisition, developing practical insights that clients act on and transferring skills that make change stick. The firm aligns its incentives with clients by linking its fees to their results. Bain clients have outperformed the stock market 4 to 1. Founded in 1973, Bain has 53 offices in 34 countries, and its deep expertise and client roster cross every industry and economic sector. For more information visit: www.bain.com. Follow us on Twitter @BainAlerts.