BrazilAccenture buys financial services management consultancy Exton
Accenture has acquired Exton Consulting, a French management consulting firm dedicated to the financial services industry.
The move adds a team of around 150 consultants to Accenture’s Strategy & Consulting business unit, and its Financial Services industry group. According to Olivier Girard, market unit lead for Accenture France & Benelux, the firm’s acquisition is part of “our overall growth strategy to expand critical skills and capabilities in strategic, high-growth areas of the market.”
With financial services facing arguably its largest disruption in history, Accenture was on the hunt (the firm is notorious for its buy-and-build strategy) for beefing up its consulting capabilities in the field. Founded in 2006, Exton Consulting has grown to become a leading player in the segment, with a focus on projects in four markets: France, Italy, Germany and Spain.
Exton Consulting’s offices in Paris, Milan, Munich and Barcelona will be integrated into Accenture, and all employees will make the transfer.
“The financial services industry is facing unprecedented transformation driven by economic and geopolitical uncertainties, regulatory challenges, digital transformation, urgency to reinvent the client experience, and the need to rethink operating models. This acquisition cements Accenture’s standing as a leading management consulting firm to the industry,” said Girard.
Cedric Vatier, Strategy & Consulting Lead for Accenture France & Benelux added that Exton Consulting will deepen Accenture’s knowhow in strategy, design, and operations, complementing the firm’s own offerings.
Meanwhile, for Exton Consulting, the move will enable the firm to tap into a global powerhouse of more than 530,000 employees, and a vast client network in the financial services industry. The joining of forces will also enable Exton Consulting to augment its offerings with technology capabilities including artificial intelligence, data and cloud.
Philippe Derambure, co-founder of Exton Consulting said, “We are excited about the opportunity to join Accenture. Driven by the digitalisation of the economy different spheres of business advisory are now coming together. The combination of innovation, technology and data skills with our expertise will help us offer highly differentiated, end-to-end services to an even-broader client base.”
For Accenture, the deal is the firm’s third in France in this year, following the pick-ups of Nell’Armonia (an enterprise performance management specialist) and Linkbynet (a cloud specialist).
From a Strategy & Consulting perspective, Exton Consulting is the fifth high-profile deal in 2021, following the acquisition of Homburg & Partner – a 70-strong sales and marketing consultancy based in Germany, Cirrus in the UK (leadership services), GRA in Australia (supply chain), and Future State in the US (change management).
