Multifaceted is a word that seems particularly apt to describe Accenture's South Africa Capital Markets industry lead, senior executive Heinrich Degener.
The world of consulting and high finance that he now inhabits was a long way from Degener's mind when he completed school in Műnster, Germany, having already spent a year as an exchange student in the United States. After leaving school, Degener devoted some years to photography, which ultimately took him to Europe's fashion capital of Milan. While this may seem like an idyllic life, it required sacrifice. "Photography is hard work!" he says.
Always playing for high stakes, in 1987 the versatile Degener decided to change tracks and pursue a degree in economics (Diplom Kaufmann) at the University of Műnster, majoring in finance and industrial marketing. "I was particularly interested in finance and trading. Options and futures pricing, hedging strategies and financial engineering were major topics at the time," he explains.
With the economics degree under his belt, Degener wanted to add French to his repertoire. While in France, he studied for a language diploma in the mornings and prepared for a long-distance triathlon in the afternoons, cycling through the foothills of the French Pyrenees. It was then that Accenture first came to his attention: he was impressed by the work the company had done to develop the systems for the 1992 Albertville Winter Olympics in France. Degener recalls, "I went straight back to Germany and applied for a position. Accenture was quick to respond."
Degener's career at Accenture began in Germany's financial capital, Frankfurt, in 1993. By 2001 he had been promoted to senior executive. He was involved with stock exchanges, derivatives exchanges and investment banks with his work taking him to other European countries and the United States. His most memorable project was supporting the introduction of Xetra, the electronic trading system for Deutsche Börse, a marketplace organiser for the trading of shares and other securities, which operates the Frankfurt Stock Exchange.
The move to South Africa in 2007 was a family decision, Degener says. He had skills that the South African operation needed, such as large, complex program delivery, combined with an in-depth knowledge of the capital markets industry.
According to Degener, opportunities for growth are plentiful in South Africa. "What I value about South Africa is the high degree of entrepreneurship. The business atmosphere is vibrant and the diversity of the people second to none. One needs to think out of the box to keep up."
In line with global trends, he sees an increasing move among investment banks in the region toward customer centricity in the front office, and increased automation and integration in the middle and back offices. "Clients tend to have patchwork system landscapes with a high degree of manual steps and reconciliation," he observes. While investment banks may be in for some significant changes in operating models and IT, Degener nonetheless believes that the key to high performance lies in a company's ability to apply global lessons to local conditions. "South African investment banks may look to international players, but they can't just copy: they have to take what's best and localise it," he says.
Degener maintains that the world of financial services consulting does give scope to his creative bent. "You need creativity to design the future for clients, to help them achieve high performance. Innovation is key, as well as emotional intelligence, to work successfully with new teams, personalities and cultures," he explains.
But when it comes to making that crucial workplace decision, Degener says simply: "There comes a point when you have to stop the discussions and get things done. It's a matter of taking the first step, and intuition certainly helps once you've crunched your numbers."
Degener firmly believes in getting his own attitude right in order to interact successfully with others. Karate helps keep him fit and provides mental relaxation, but his family is his real bedrock. He has a close relationship with his wife, who is a business yoga practitioner and coach, and his two children—a boy aged nine and a girl aged five. As a family, they enjoy exploring the wilds of southern Africa—which gives Degener a chance to dust off those long-distance camera lenses.
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