Advisense buys German risk and regulatory specialist Arreba Consulting

Pan-European consulting firm Advisense has acquired Arreba Consulting, a German consulting firm specialized in risk management and regulatory reporting.

Founded in 2016, Arreba Consulting is a Munich-headquartered consultancy firm with around 35 staff. Like Advisense, the firm is dedicated to the financial services industry, offering services in areas such as regulatory reporting, IT project delivery, risk management, and test management.

“Germany is an important market for Advisense, and we are therefore proud to welcome the team of Arreba Consulting, which will strengthen and expand our German as well as our global service offering within risk management and regulatory reporting,” said Christine Ehnström, CEO at Advisense.

Headquartered in Sweden, Advisense is one of Europe’s larger consultancies specializing in governance, risk and compliance services in the financial services industry. The firm works for major banks, insurers, asset and wealth managers, and regulators. Founded in 2008, Advisense today has more than 450 employees based in 13 offices.

Now the firm’s second office in Germany alongside Frankfurt, Arreba Consulting will help deepen Advisense’s position in Europe’s second-largest financial services market (after London), and lift the size of its Risk Management team to 160.

“Advisense has the ambition to become the number one risk management advisory firm in Europe. With Arreba Consulting on board, we are taking the next step in achieving this ambition,” stated Henrik Nilsson, Head of Global Risk at Advisense.

Meanwhile, for Arreba Consulting, the joining of forces with the international player will enable its team to work on larger, cross-border and broader projects, while deepening their expertise in risk and regulatory reporting. Stephan Seidenspinner and Stefan Weiss, Managing Directors at the German boutique, also highlighted the benefits in terms of career development for staff.

Earlier this year, Advisense (which is backed by private equity) also acquired CR Consulting, a Denmark-based consultancy specializing in risk management and credit processes.