Finance and treasury consultancy Zanders launches in Nordics

Zanders, a consulting firm specialised in finance and treasury services, has opened offices in Denmark and Sweden.

“We are continuously looking for opportunities to expand internationally,” said Sander van Tol, a partner at Zanders in the firm’s headquarters in the Netherlands. The firm’s latest offices, the sixth in Europe and seventh globally, builds on its track record of helping corporations and financial institutions in the Nordics with treasury, corporate finance and risk management services and solutions.

“We have been working across the region – Denmark, Finland, Norway, Sweden and Iceland – for several years, remarked Van Tol, pointing to the region’s close match in “business, people and culture” with the firm's home country. “This seamless match in business culture makes the Nordic market very interesting for us.” Alongside serving existing Nordic-based clients, Zanders consultants have in recent years frequently provided training sessions and keynotes at leading conferences and congresses in the region.

He added that the consulting firm sees an opportunity to add value to the financial operations of Scandinavian clients, a belief which played an integral part in giving the green light to the expansion. “We want to be present in countries where treasury is practiced at a high level and is highly integrated, and this is the case in the Nordics.”Among the companies Zanders works with are the likes of cigarette giant British American Tobacco, Dutch maritime multinational Boskalis, coatings and specialty chemicals company AkzoNobel, telecom company Türk Telekom, equipment manufacturer Johnson Controls International, and pharma firm Sanofi.

The move comes at a time when the Nordic consulting industry is seeing a period of strong growth. Spending on consultants grew by 6% in 2017, and growth accelerated last year to over 7%. Sweden’s €1 billion+ consultancy landscape holds the lion’s share of the region, followed by Denmark at roughly €800 million.

Faced with disruption from emerging technologies, growing regulatory complexity and an outcry for more financial transparency, companies of all sizes are seeking ways to overhaul and optimise their finance operations. This is lifting demand for external support, with finance & risk consulting among the faster growing service lines in the Nordics, mirroring developments seen elsewhere across Europe. 

A Dane at the helm

Tapped to lead the new operation is René Andersen, who has been named Head of Nordics. The Danish native transfers from Deloitte, where he was a Director in the Big Four’s Treasury & Risk Advisory practice. Earlier in his career, he worked over two decades in management consulting and banking, based in six different countries (Denmark, Luxembourg, Germany, Hong Kong, Sweden and the UK). He specialises in services to the chief financial officer, with a focus on treasury and risk management transitions.

He is supported in his endeavours by Dutchman Job Wolters, a 10+ year veteran at Zanders currently serving as director of corporate clients. He has been put forward to leverage his experience in establishing and growing a new office – Wolters previously assisted in developing Zanders’ Swiss office in Zürich, which launched in 2010 and now has gained an established foothold in the financial services centre. 

When Zanders first ventured into Switzerland, its second international hub at the time, Van Tol said, “We don’t want to be a Dutch company with a few international customers, but rather an international company with global clients.” Reflecting on the ambition, he looks forward to the latest undertaking, stating; “We are very much looking forward to building our Nordic market presence as well as meeting finance professionals in the region.”

Asked about how they believe the firm will differentiate itself in the market, the trio of leaders pointed to Zanders’ deep expertise and subject matter knowledge, practical approach and excellent value for money.