Navigant Consulting to buy financial services consultancy Troika
26 July 2007 | 3191 views | 0
Source: Navigant Consulting
Navigant Consulting (NYSE: NCI) a global consulting firm providing operational, dispute, investigative, risk management and financial advisory solutions to legal counsel, government agencies and companies experiencing regulatory or structural challenges, today announced the Company has signed a definitive and binding agreement to acquire Troika (UK) Limited, a leading UK financial services consultancy.
Troika provides consultancy services to the financial services industry covering operations performance improvement; product and distribution strategies; organization, people and change; IT effectiveness and transaction support. Troika's UK clients include 13 of the top 15 Life & Pension companies, nine of the top 15 Banks and Building Societies and ten of the top 15 Investment Management firms. In 2006, Troika was the UK Management Consultancy Association's "Best Small Management Consultancy of the Year."
"Navigant continues to expand on a global scale," stated Don Harvey, Navigant Consulting Managing Director of European Operations. "We expect London to be the key center for the international financial services markets over the next several years. Joining forces with Troika enhances our ability to be a leading player in this market, and to provide a targeted range of business enhancing services." Following the acquisition, Navigant Consulting in the UK represents more than 225 professionals with experience in providing clients with strategic, performance, risk management, financial and dispute management advice.
"I am delighted that in Navigant we have found a partner who shares our belief in the value of independent thinking, born out of industry experience, creativity and practicality," stated Andrew Stewart, Managing Director of Troika. "Together we can continue to redefine the delivery of Professional Services, bringing enhanced offerings to Troika's client base in UK Financial Services as well as Navigant clients around the world."
"Troika offers our Financial Services practice several exciting strategic advantages and they represent an excellent platform for us to further our Financial Services consulting business in one of the largest financial markets in the world," stated David Kay, Managing Director in Navigant Consulting's Financial Services practice. "The Troika team provides us the ability to leverage their skills and services into the U.S.SS. and European markets. They have exceptional consulting capabilities, management skills and client relationships that represent a valuable addition to our expanding Financial Services practice."
Troika was founded in 1998 by Andrew Stewart, Neil Mayall and Richard Vale. The Troika team is based in London and includes more than 40 billable consultants. Additional transaction details were not disclosed.