Accenture Purchases Parker Fitzgerald
Accenture has acquired Parker Fitzgerald, a strategic advisor and consulting partner to leading global financial institutions, further enhancing the business and technology capabilities within its Finance and Risk practice. Terms of the transaction were not disclosed.
Founded in 2008 in response to the global financial crisis, Parker Fitzgerald advises financial services companies on financial and non-financial risk, regulation and financial technology. The firm provides strategic advice, independent assurance, and market-leading solutions to help clients navigate risks, reduce operational complexity and improve their overall risk-adjusted performance.
Parker Fitzgerald’s advisory and assurance expertise and regulatory experience will complement Accenture’s consulting and technology capabilities and strengthen Accenture’s client response to the evolving risk landscape in financial services.
“Financial services companies continue to contend with the impact of economic and geopolitical uncertainties, regulatory challenges and digital transformation,” said Tara Brady, who leads Accenture’s Financial Services practice in the U.K. “Parker Fitzgerald has a successful track record helping clients navigate ever-increasing disruption and uncertainty, and the combination of their risk advisory and assurance expertise with Accenture’s consulting and digital capabilities will be a strong differentiator, enhancing our services to U.K. financial institutions.”
Scott Vincent, founder and CEO of Parker Fitzgerald said, “Helping clients optimize their performance in a rapidly evolving risk environment remains our utmost priority. Accenture’s tremendous scale and scope, coupled with their data- and technology-focused expertise in finance and risk, will enable us to expand our geographic reach and provide high-quality services to an even broader client base.”
Peter Beardshaw, who leads Accenture’s Financial & Risk practice in the U.K., said, “Parker Fitzgerald’s skills, approach to financial risk management and long-standing regulatory relationships are at the heart of the risk management agenda and will enable us to provide clients with an even greater level of risk and assurance services and solutions.”
The purchase should bolster the firm's trading technology and quantitative research.
The acquisition will bring approximately $3.7 billion AUM to the independent wealth manager.
The private investment firm has not disclosed the terms of its purchase.
The purchase creates the first end-to-end crypto trading and reconciliation platform.
The acquisition strengthens the vendor's product portfolio for financial services.