Accenture buys Beacon Consulting Group

Source: Accenture

Accenture (NYSE: ACN) has acquired Beacon Consulting Group, a trusted advisor and management consultant to the North American asset management community.

This acquisition significantly expands Accenture’s asset management consulting capabilities and enhances its ability to help global investment managers, institutional investors and asset servicers gain an edge in increasingly competitive markets. Terms of the transaction were not disclosed.

Beacon Consulting will become part of Accenture’s Capital Markets practice, reinforcing its expertise and capabilities in asset management to help asset managers and other financial services companies design, build and operate their business.

“Though asset management is a large and growing industry segment, it is also characterized by increasing competition and rapidly evolving industry dynamics,” said John DelSanto, senior managing director of Accenture’s Financial Services operating group in North America. “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.”

Headquartered in Boston, Massachusetts, Beacon Consulting Group brings a deep understanding of the asset management industry with differentiated expertise in middle- and back-office operations. Beacon’s proprietary benchmarking data and thought leadership also help its clients enhance their competitive position and implement changes that transform their business performance.

“Top-tier asset management firms are facing increased competition, fee pressure from investors, rapidly changing investor preferences and products and ever-increasing regulation,” said Keith Brown, president at Beacon Consulting. “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.”

Accenture’s Capital Markets practice provides consulting, strategy, digital, technology and outsourcing services to financial institutions to optimize analytics for asset managers, drive sales force effectiveness, improve operational productivity, reduce costs and manage risks. Its clients include eight of the top 10 global wealth managers and seven of the top 10 global asset managers.

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