Acquisition to expand SI’s technology and consulting expertise
Global systems integrator Accenture is bolstering the technology and business capabilities of its Finance and Risk unit with the acquisition of Parker Fitzgerald, an 11-year-old advisor and consulting partner to financial institutions.
The Lowdown: Parker Fitzgerald, which was founded in the wake of the worldwide financial crisis a decade ago, works with financial services companies around financial and non-financial risk, technology, and regulations. The company offers everything from strategic advice and solutions to independent assurance to help customers better manage risk, operational complexity, and performance.
The Details: Buying London-based Parker Fitzgerald will add expertise around assurance, risk advisory, and the regulatory environment to Accenture’s consulting, technology, and regulatory capabilities. The midsize firm’s experience also will help Accenture work with customers around the always-changing risk landscape in financial services. Parker Fitzgerald has been working with financial institutions to protect them against cyber threats. No financial details about the acquisition were released.
Background: Accenture this year has made other moves to bulk up its expertise in emerging technology areas. In February, company officials said it was adding 10,000 consultants that would grow the company’s migration and implementation services for Microsoft cloud customers. Four months later, it bought Déjà vu Security, a company specializing in Internet of Things (IoT) security.
The Buzz: “Financial services companies continue to contend with the impact of economic and geopolitical uncertainties, regulatory challenges, and digital transformation,” said Tara Brady, who leads Accenture’s Financial Services practice in the United Kingdom. “Parker Fitzgerald has a successful track record helping clients navigate ever-increasing disruption and uncertainty, and the combination of their risk advisory and assurance expertise with Accenture’s consulting and digital capabilities will be a strong differentiator, enhancing our services to U.K. financial institutions.”
“Helping clients optimize their performance in a rapidly evolving risk environment remains our utmost priority,” Parker Fitzgerald founder and CEO Scott Vincent said. “Accenture’s tremendous scale and scope, coupled with their data- and technology-focused expertise in finance and risk, will enable us to expand our geographic reach and provide high-quality services to an even-broader client base.”