Accenture buys Spanish financial services consultancy Axis Corporate

08 April 2024 1 min. read

In its second major European deal this month, Accenture has acquired Axis Corporate, a Spanish management consulting firm specialized in financial services.

As part of the deal, Axis Corporate’s approximately 110 consultants in Barcelona and Madrid will join Accenture’s Strategy & Consulting practice. A small team also cross in the US, where Axis Corporate has a office in Boston.

Founded in 2005, Axis Corporate has long-standing relationships with many of the largest financial services firms in Spain, with expertise primarily in retail and commercial banking, consumer finance and payments.

Accenture buys Spanish financial services consultancy Axis Corporate

Key services offered by Axis Corporate include operating model and cost transformation, talent and culture, finance, and sustainability. The consulting firm also has strong risk management capabilities, with a special focus on helping banks better manage and recover non-performing assets and loans.

Mercedes Oblanca, market unit lead for Accenture in Spain and Portugal, said: “With this acquisition, we will be in an even stronger position to help our financial services clients in Spain.”

David Cordero, who leads Accenture’s Banking industry group in Europe, added: “As banks and other providers navigate a continually changing and highly competitive landscape, the need to transform their businesses to offer hyper-personalized and impactful digital customer experiences has never been greater. Axis Corporate’s proven expertise across the entire financial services value chain will bolster our ability to accelerate continuous reinvention at scale for our clients.”

Earlier this month, Accenture bolstered its Italian consultancy business with the acquisition of Intellera Consulting, one of Italy’s largest homegrown consultancies in the public sector landscape (1,400 staff).