Accenture has acquired Parker Fitzgerald, a strategic advisor and risk management consulting partner to top global financial companies.
Financial terms of the transaction were not disclosed.
The deal marks Accenture’s third acquisition in the most recent days, part of the consulting giant’s bigger $1.5 billion M&A war chest this year.
“Financial services companies continue to contend with the impact of economic and geopolitical uncertainties, regulatory challenges and digital transformation,” commented Tara Brady, who leads Accenture’s Financial Services practice in the UK.
“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 UK financial institutions.”
About Parker Fitzgerald
Founded in 2008 in response to the worldwide financial crisis, Parker Fitzgerald advises financial institutions on financial and non-financial risk, regulation, and financial technology.
The company offers strategic consulting, independent assurance and industry-leading solutions to help clients negotiate risks, minimize operational complexity and enhance their overall risk—adjusted performance.
Scott Vincent, founder and CEO of Parker Fitzgerald said:
“Helping clients optimize their performance in a rapidly evolving risk environment remains our utmost priority.
“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.”
Peter Beardshaw, who leads Accenture’s Financial & Risk practice in the U.K., added:
“Parker Fitzgerald’s skills, approach to financial risk management and long-standing regulatory relationships are at the heart of the risk management agenda and will enable us to provide clients with an even greater level of risk and assurance services and solutions.”
Accenture merger and acquisition strategy
Accenture announced its $1.5 billion acquisition war chest in March 2019. The move is meant to grow the firm’s digital, cloud, and security services offerings.
The mergers and acquisitions strategy has remained solidly in place even as Accenture’s executive leadership team evolves. Some of the key moves include Julie Sweet becoming the global CEO starting September 1, 2019 and James Etheridge succeeding her as CEO of Accenture North America.