RSM expands CEE presence with new member firm in Bulgaria

19 January 2018

Global accounting and consulting network RSM has expanded its footprint in Central and Eastern Europe (CEE) with the addition of a new member firm in Bulgaria. 

Previously known as Balance-M, RSM Bulgaria is situated in the Bulgarian capital city and primary economic centre, Sofia. The company, founded in 1997 by the current Managing Partner Mariana Mihaylova who has 25 years of experience in professional services, provides audit, assurance, tax and consulting services to clients in Sofia and the region, including several clients in some of the country’s more established players in the energy, pension and insurance sectors. The firm’s full roster of clients spans, according to the company’s website, organisations in over fifteen industries. 

The professional services firm has a team of 21 professionals, of which four are certified public accountants, with two of them holding doctorate degrees (PhD) in Economics. All of the company’s employees have an academic degree (bachelor or masters) in one of the major business fields, including accounting, finance, law, management, business relations or computer technologies. 

Commenting on joining RSM’s network, Mihaylova, who is an active member of the Bulgarian Institute of the Certified Public Accountants (ICPA), said, “The business environment in Bulgaria is demonstrating significant growth across key industry sectors. We believe it is the ideal time for us to join the RSM network and are looking forward to leveraging the strength of the global brand to deliver additional services to our existing clients.” 

RSM Bulgaria

As part of RSM’s international network, Mihaylova expects to better serve Bulgarian clients with their international endeavours, and foreign RSM member firms with their local matters for doing business in Bulgaria. The new member firm will therefore collaborate closely with nearby member firms in Macedonia, Romania and Serbia to provide cross-border solutions for clients. “We are excited to collaborate with our neighbouring firms to drive additional growth of the RSM brand across the region,” she remarked.

For RSM, the push into Bulgaria aims at capitalising a growing economic opportunity for global companies. After a hard hit during the financial crisis and its aftermath, the Bulgarian economy returned to growth in 2010, and since even seen strong growth, reaching a GDP of over $152 billion. In par with the broader European picture, Bulgaria’s economy is forecasted to maintain a healthy growth in the coming years. 

“We are excited to embed our brand in Bulgaria’s growing economy. At RSM, our firms are passionate about delivering seamless (cross-border) client services to an extremely high level. With the addition of the member firm in Bulgaria, we look forward to providing more opportunities to help our clients achieve growth in the market,” said Jean Stephens, Chief Executive Officer of RSM International.

Bulgaria at the same time marks a special milestone for RSM, the sixth largest network of independent audit firms. The addition takes its global representation to more than 120 countries. Other recent expansions include adding a new member firm in Costa Rica and Canada. 

Meanwhile, in neighbouring Romania, Deloitte recently appointed former KPMG partner Dinu Bumbăcea as the Managing Partner of its Consulting arm.

BCG launches BrightHouse and Digital Ventures in France

15 April 2019

Global management consulting firm Boston Consulting Group (BCG) has launched two of its subsidiaries in France.

Launched in 1973, BCG’s Paris office is with 400 consultants one of the firm’s largest in its footprint of 90+ offices globally. The hub, led by company veteran Guillaume Charlin, plays an instrumental role in developing BCG in Western Europe, francophone Northern Africa, and Israel and Lebanon, which have close economic ties with France.

Having focused mainly on strategy consulting services over the past decades, Boston Consulting Group’s French arm is branching out to other services areas. BCG Platinion – BCG’s IT solution wing – and BCG Gamma – BCG’s advanced analytics arm – have been active in Paris for a while, and now two of the firm’s other subsidiaries – BCG Digital Ventures and BrightHouse – have landed in the French capital city. 

BrightHouse is a creative consultancy that support clients with the development of purpose-driven branding strategies. The firm has helped companies like Procter & Gamble, McDonald’s, KPMG and American Express discover and articulate their purpose, and then helped them activate and embed their purposes within their organisations. BCG acquired BrightHouse in June 2015, and since then the consultancy has been operating as an independent business division of the US-consulting giant. BCG launches BrightHouse and Digital Ventures in FranceFollowing the opening of a new office in Berlin last year, Paris becomes the firm’s third hub internationally (the firm is headquartered in Atlanta) and second in Europe. BrightHouse France will be managed by Mathieu Menegaux, a senior partner who has been with the firm since 2001. The HEC graduate focuses mainly on clients in the energy & utilities and industrial goods sectors.

BCG Digital Ventures is BCG’s corporate investment and incubation firm. The division invents, builds, scales and invests in startups, often in collaboration with the world’s most influential companies. Founded in 2014, when a large team of digital experts transitioned from Booz & Company (now Strategy&) to Boston Consulting Group, BCG Digital Ventures currently has offices in the US, (Los Angeles, New York, Seattle), Europe (Berlin, London, Paris) and Asia (Sydney, Shanghai and Tokyo). Since inception, the unit has (co-)founded over 60 ventures.

Among the projects BCG Digital Ventures has delivered include the development of a new blockchain-powered platform for transparency in the food chain for fish (together with the WWF in Australia) and the launch of Hey.Car, a platform for the used car segment (together with German automotive giant Volkswagen).

In France, BCG Digital Ventures will be led by Caroline Vion, who joined BCG in 2014 as part of the founding team that joined from Booz & Company. Earlier in her career, she worked for companies in the media and luxury retail sectors. Vion has relocated from Los Angeles to head the new venture in France. 

Last year, BCG was named one of France’s top strategy consulting firms to work for.