Accenture acquired Beacon Consulting Group, an advisor and management consultant to the North American asset management community. Terms of the transaction were not disclosed.
In a press statement, Accenture said this acquisition will expand its asset management consulting capabilities.
Following the acquisition, Beacon Consulting will become part of Accenture’s Capital Markets practice.
“By adding the consulting professionals from Beacon to our Capital Markets practice, we further deepen our industry knowledge to be better positioned to help our clients transform the way they do business,” said John DelSanto, senior managing director of Accenture’s Financial Services operating group in North America.
Headquartered in Boston, Massachusetts, Beacon Consulting Group is a specialist in asset management industry with differentiated expertise in middle- and back-office operations.
Commenting on the acquisition, Keith Brown, president at Beacon Consulting noted that top-tier asset management firms are facing increased competition, fee pressure from investors, rapidly changing investor preferences and products and ever-increasing regulation.
“We’re excited to join Accenture to help the industry meet these challenges, execute transformation across their business and succeed in a quickly changing market,” Brown said.
Accenture’s Capital Markets practice provides consulting, strategy, digital, technology and outsourcing services to financial institutions.