MutualFundWire.com: Accenture Buys a Consultant to Fundsters

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Wednesday, December 30, 2015

Accenture Buys a Consultant to Fundsters

Accenture just bought a shop that consults for fundsters like you. The deal brings an Accenture alumnus back into the fold.

John Del Santo
Accenture
Senior Managing Director of Financial Services, North America

This month John DelSanto, senior managing director for Accenture's financial services operating group in North America, confirmed that the New York City-based global professional services company has acquired Boston-based Beacon Consulting Group. Beacon will become part of Accenture's capital markets practice.

The pricing and terms of the deal were not disclosed.

Keith Brown, president of Beacon, is a familiar face at Accenture. An alumnus of Fairfield University, Brown spent two years at Accenture (then called Andersen Consulting) in the mid-1990s. He also worked at the Boston Company and PWC before joining beacon in 1999.

Keith Brown
Beacon Consulting Group
President

DelSanto puts the deal in the context of asset management being "a large and growing industry segment" for Accenture, a segment "characterized by increasing competition and rapidly evolving industry dynamics." Brown, too, frames the deal by talking about the challenges facing mutual fund shops and other asset managers.

"Top-tier asset management firms are facing increased competition, fee pressure from investors, rapidly changing investor preferences and products and ever-increasing regulation."

Printed from: MFWire.com/story.asp?s=53186

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