Brian de Lacy joined EMIS as Chief Operating Officer in June 1999 and was promoted to Chief Executive Officer in October of 2002.
Prior to joining EMIS, Brian spent 17 years at Reuters starting in sales based in South Africa and then moving via sales management into P&L management based in the United States of America. Prior to joining Reuters, Brian worked in the Investment and Foreign Exchange divisions of a leading South African bank.
Brian attended university in South Africa and is a graduate of the Boston University Graduate School of Management where he received his MBA.
What was it like coming from a senior executive position at a large corporation like Reuters to a small Internet start-up?
It was a very exciting transition. EMIS was an inspired business. They had a lot of talented people and smart entrepreneurial management who accepted me into the ranks from the start. EMIS had already built a great product with strong potential and most importantly, there was an energetic “can do” mindset and a strong team spirit throughout the company. What a great springboard into the future.
Prior to joining the business media world you used to work in a bank. What made you switch sectors and do you have any regrets about doing that?
I left the bank to move into the then fledgling world of computerised information systems. It seemed obvious to me that technology was about to play an accelerating role in the world’s financial markets and I wanted to be part of it. No regrets.
How important has been the support of our parent company Euromoney in the expansion of the company?
Euromoney’s support is invaluable. They brought a level of access to our global prospects and global client base that we did not previously enjoy and their sales focus matched our needs perfectly. Their willingness to help is legendary - it was a great match for EMIS.
Can you tell us about the moment EMIS became a profitable business?
We hit breakeven at the end of September 2002. There was much excitement. Every single EMIS’er had made a positive contribution and there was a great feeling of achievement throughout the company. It was a moment to savour.
During the geographical expansion of EMIS, which region/country was the most difficult one to enter?
There are differing levels of regulatory requirement between different countries but the opportunities a new territory offered created so much excitement for us and this is where we focused.
How challenging was the effect of the global economic crisis on EMIS. Was the company used to such crises keeping in mind the Asian bank crisis, the Russian debt default, the Mexican peso crisis?
When one region of the company’s business might slow down, others might be buoyant - our global footprint allowed us to more easily manage any local crises. The global economic crisis was different, as all regions took a hit at the same time and the company had no geographic buffer. We did feel the impact of the global economic crisis to a certain degree but the quality of our service and the continued need of our clients to manage their global initiatives did prove a buffer of sorts for us in the end.
What was more demanding for you as an executive - managing the rapid global expansion of the company after 2000 or navigating the turbulent business environment after the fall of 2008?
Navigating the turbulent business environment after the fall of 2008 was definitely more challenging, as it was accompanied by a change in the market mindset. There was no new spend and existing budgets were cut. Many companies closed down their emerging market initiatives or put projects on hold. Money was tight all round. A very difficult situation indeed.
You've been the CEO of EMIS for more than 13 years. What has surprised you the most about the evolution of the business information industry in that time?
A pleasant surprise has been the ongoing growing thirst for more data. Our challenge was to ensure the data quality and speed of delivery allowing our clients fast access to relevant data which helped them identify and maximise profitable opportunities whilst at the same time avoid or minimise potential losses.
You have overseen several big acquisitions at EMIS, notably CEIC Data, BPR Benchmark, etc. How important was acquisitive growth for the company?
Complementary businesses allowed us to enhance our product offering. One advantage we had was taking a good complementary local product and globalising it. Acquisitions such as CEIC grew to become stand-alone companies in their own right. Yes, acquisitions were important and did contribute to our product breadth and depth and to our company growth.
What is the secret of building a $50 million company?
People. We had talented “can do” people on board and each EMIS’er made a significant contribution to our success.
What was the most difficult decision you had to take as the company’s CEO?
The decision to retire – I was having far too much fun.
Can you share your most memorable moment/event at EMIS?
Breakeven – September 2002.
If you had to describe EMIS with one word, what would that be?
Unique.
Where do you see EMIS in 20 years?
The model may change from a subscription business to “a pay-per-view” model but the EMIS service has great value and thus strong potential for longevity, provided it keeps pace with customer demands and general market trends. EMIS will also need to increase its proprietary content to protect and enhance its uniqueness.
What have you been up to after EMIS?
I took some time off to enjoy my growing family and my wife and I also did some travel. I plan to become involved in the business world once again after the summer.