Thank you Eric, for having these speakers here this evening at the Financial Service Club

Thank you Eric, for having these speakers here this evening at the Financial Service Club. As Eric said, I am a complete outsider to your field. I grew up in the world of procurement and I worked for companies like Procter & Gamble and for the last 8 years, for ATK. I typically work with the Chief Procurement Officer, you might have seen the title often already, the CPO’s, these are the guys who run the procurement department and probably they are not really at arm length with you. They are a little bit further down the usual supply chain. So I will tell you about how procurement looks at the financial supply chain. At this moment, I am in new a territory; you will have much more knowledge than I have. Let me quickly introduce ATK, I don’t know whether you are all familiar with ATK. There was once a man called McKinsey, he and Mr. Kearney were partners, until they split. Both of them are still in the market and both of them are doing successful businesses. So we have about 50 offices and over 2500 consultants, and from the right hand side, you can see the areas that we are working in, like financial services , or automotive and many more service practices. We made about 750Mio. USD in 2007. In procurement, we are the leader. Worldwide. And it started about in 1990’ when we were working with General Motors and a couple of famous names there, when we created what is now called strategic sourcing and global sourcing. We developed the 7 steps ...