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Consulting Leadership News: Ernst & Young, L.E.K., Huron, ECS, PA Consulting, KPMG and Aon Hewitt Monadnock Research - 20 January 2012 Ernst & Young appoints Mark Weinberger as next Global CEO and Chairperson. L.E.K. names Stuart Jackson North America President; Appoints 6 new Partners. Huron appoints former Accenture executive as Managing Director and leader of Clinical Solutions practice. Huron promotes Gerri Birg, Sandra Dodds, Michael Gladson, Neera Gupta, Michael Kemper, Jason Moebius, Scott Pillittere and Joe Sneddon to Managing Director. ECS appoints George Wilson as President. PA Consulting names Dave Smith Group Technology Leader. Andrea Schaffell named Director of PA Shared Services and Outsourcing practice. KPMG appoints David Hansell Head of global Human Social Services practice. Aon Hewitt's Head of Investment Consulting, Andrew Tunningly, departs. (1,825 words) . . . More And in other news: Ernst & Young, Aon Hewitt, ECS and Navigant Monadnock Research - 18 January 2012 Operational Risk & Regulation Magazine releases results of its 2011 consultancy rankings of the top 10 operational risk management consulting practices. Ernst & Young takes the top spot in anti-money laundering, corporate governance, regulation strategy, Basil II and III, treating customers fairly, fraud and financial crime prevention, and enterprise-wide compliance and risk management strategy. Aon Hewitt signs agreement with Birches Group to remarket compensation surveys. ECS acquires Paradigm Technologies. Navigant shareholder sues, claiming excessive executive compensation. (753 words) . . . More BDO Wins Arkansas Supreme Court Appeal to Arbitrate Fraud Allegations Monadnock Research (Vol V, No 1) - 14 January 2012 BDO Seidman has won an appeal against Straits Steel & Wire, forcing the client's allegations of fraud to be heard by arbitrators and not the courts. The Arkansas Supreme Court decision reverses a ruling of the Sebastian County Circuit Court, which had denied a motion by BDO to compel arbitration against Straits Steel & Wire, Co. and its affiliates. The case involves tax consulting services and allegedly fraudulent tax shelters. BDO successfully argued on appeal that the circuit court erred in denying arbitration because it was the dispute resolution mechanism of choice in agreements signed by the parties. SSW attempted to get around the dispute resolution choice by claiming unconscionability of the alleged fraud. SSW claims breach of fiduciary duty, negligence and professional malpractice, negligent misrepresentation, disgorgement of excessive and illegal fees, fraudulent inducement, fraudulent concealment, fraud, civil conspiracy and breach of contract. Research Note includes Arkansas Supreme Court ruling and MR perspective on the inherent system bias of arbitration clauses in consulting agreements. (1,375 words) . . . More Infosys to Buy Strategic Sourcing and Category Management Outsourcer, Portland Group Monadnock Research - 13 January 2012 Infosys BPO Limited, the business process outsourcing unit of Infosys Limited, has signing a definitive agreement to acquire Australia-based Portland Group Pty Ltd, a leading provider of strategic sourcing and category management services. The deal was originally expected to be completed in early January, subject to closing conditions. But it has been delayed. Portland Group was founded in 1999, is headquartered in Sydney and has offices in Melbourne, Brisbane, and Perth. The company reported revenues of around $31.3 million (AUD) for its fiscal 2011, ended 30 June. Portland has 113 professionals. The transaction value was around $37 million (AUD). (300 words) . . . More PA Consulting Acquires Security Consultancy, 7Safe Monadnock Research - 12 January 2012 PA Consulting Group has acquired Cambridge-based cyber security consulting firm, 7Safe Ltd. 7Safe provides services in the areas of security risk assessment, computer forensics, eDiscovery and education. PA says it complements the firm's cyber security, risk and resilience capabilities, areas in high demand by public and private sector clients. (430 words) . . . More Deloitte Acquires Mobile Agency, Ubermind Monadnock Research - 6 January 2012 Deloitte has closed a transaction acquiring Seattle-based mobile strategy, engineering, design and creative talent consultancy Ubermind. Deloitte says Ubermind works with companies to transform the way they use and present their brand through mobile devices, employing disruptive technologies to create mobile applications designed to both strengthen brand and transform the business. The transaction also brings to Deloitte a portfolio of proprietary frameworks and methodologies that are customized to the mobile development lifecycle. Ubermind CEO Shehryar Khan and company founder Donald Brady will join Deloitte Consulting as principals. (295 words) . . . More Salibello and Broder Merge Audit and Advisory Practice into BDO USA Monadnock Research - 5 January 2012 BDO USA as merged Salibello & Broder into the firm's New York and Los Angeles practices. Six direct entry partners will join the firm, along with about 60 other professionals and support staff. Salibello & Broder was founded in 1978 and is a full-service accounting, tax and business advisory firm serving commercial and public service clients, The firm is a leading servicer of employee benefit plans, entertainment, apparel and high-net-worth clients throughout the US. Salibello & Broder's fifty-seven staff members are based in New York and eight in Los Angeles. Those individuals will relocate to BDO facilities in the coming year. (340 words) . . . More ICF International Completes Acquisition of Ironworks Consulting Monadnock Research - 4 January 2012 ICF International has closed on its acquisition of Ironworks Consulting, an interactive web development firm that provides customer engagement services across web, mobile and social media platforms to large clients in healthcare, energy, financial services, U.S. federal agencies and nonprofit organizations. The firm was founded in 2001, and offers integrated customer engagement applications, including interactive, portal and content management systems, and business and IT alignment services. ICF paid around $100 million for Ironworks. (245 words) . . . More Arthur D. Little Completes Global Management Buyout; Again Owned By Partners Monadnock Research - 2 January 2012 Arthur D. Little successfully completed its Management Buy-Out (MBO) with Altran Technologies on 30 December 2011. ADL, now in its 125th year in various forms, was founded in 1886 and was the world's first management consulting firm. The transaction returns ADL to a global private partnership, with all equity held by its Partners. The MBO deal includes all worldwide offices and retention of the Arthur D. Little brand. The firm says the financial commitment required from Partners was oversubscribed and Altran will provide vendor financing to support the firm's development in the years ahead. ADL now has around 1,000 staff serving clients in 20 countries. The firm provides services in the areas of strategy, technology and innovation. Ignacio GARCIA ALVES, leader of the MBO team that managed the acquisition by its Partners, is the newly elected global CEO. (390 words) . . . More KPMG Advisory Practice Grows 2.5 Times Faster than Audit in 2011; $2 Billion Management Consulting Business Up 29% Monadnock Research (Vol IV, No 44) - 22 Dec 2011 MR - KPMG International's advisory practices grew at 14.76% in fiscal 2011, for the period ended 30 September. That was 256.7% faster than the firm's global audit businesses grew. KPMG says its global management consulting practices had fiscal 2011 revenue growth of 29% in US dollars and 24% in local currency terms. KPMG has built its $2 billion management consulting business in just six years. Its acquisition of EquaTerra in 2011 dramatically increased the firm's outsourcing and shared services advisory practice. Revenues increased across each of KPMG's geographic regions. Asia Pacific growth was 16.6% in US dollars. Americas revenues were up 10.7%. Europe, Middle East and Africa, including India, increased by 7.7%. Much of the geographic expansion occurred in high growth markets. India was up 25% and Brazil 22% in local currency terms. Research Note includes 1 graphic and MR perspective on Big Four divestitures of advisory operations. (815 words) . . . More Expert Network Consultant Sentenced to 40 Months for Insider Trading Scheme Monadnock Research - 21 December 2011 James Fleishman, a sales manager at expert network consultancy Primary Global Research (PGR), was sentenced in Manhattan Federal Court to 30 months in prison for his role in an insider trading scheme. Fleishman was found guilty of helping pass inside information about publicly traded companies to executives at several hedge funds so they could trade ahead of its public release. He had been convicted on 20 September 2011 after a three-week trial. Fleishman, 42, of Santa Clara, California, was also sentenced to two years of supervised release in addition to his prison term. (355 words) . . . More And in other news: Accenture, Oracle, US Justice Department, BCG, CBIZ, Warbird Consulting and Monadnock Research Monadnock Research - 20 December 2011 Accenture Consulting Revenues Increase by 14% in Q1 2012; Issues Cautious Outlook. Oracle growth hits the brakes in current quarter; Services revenues dip slightly. US Justice Department Records $3 Billion in 2011 Fraud Settlements. FINRA Attacks BCG Report. CBIZ acquires defined benefit consulting practice of PSA Insurance. Former Huron principals Launch Warbird Consulting. Monadnock Research Publishes Compilation of 2011 Consulting Rate Research. (1,150 words) . . . More Consulting Leadership News: Roland Berger Strategy Consultants, Simon Kucher, Heidrick & Struggles, KPMG, PricewaterhouseCoopers, Ernst & Young, Capgemini, FTI Consulting, Charles River Associates, Aon Hewitt, Celerant, CACI, CSC and Booz Allen Monadnock Research - 15 December 2011 Roland Berger opens offices in Jakarta, Dubai and Lagos; Appoints 26 new international Partners; Partners elect two new Supervisory Board Members. Simon-Kucher appoints 8 new Partners. FTI opens new office in Jakarta. Rebecca Szelc joins Charles River as a Vice President in Financial Accounting & Valuation practice. Linda Zimmerman joins Aon Hewitt as Senior Vice President and Global Marketing Leader. KPMG appoints Janet Davidson as Head of the Global Healthcare Center of Excellence. PricewaterhouseCoopers names Erik Hansen as Partner in Risk Assurance Services practice; Pamela F. Olson joins as Deputy Tax Leader and Leader of Washington National Tax Services practice. Capgemini Appoints Dee Burger as Telecom, Media and Entertainment Practice Sector Lead and Jean-Marc Steffann as Vice President. Navigant appoints Jim Vint Managing Director, and Kevin Blake and Kevin Byrne as Directors within the Technology Solutions practice; Karin Corfee as Managing Director in Energy Practice. Ernst & Young appoints Brendan LeBlanc as Executive Director in Americas Climate Change and Sustainability Services practice, and Chris Walker as Associate Director. Celerant appoints Neil Eurick as Vice President in Global Metals and Mining Practice. Mike Shove named COO CSC Managed Services; Andrew Anker appointed President, CSC Asia Group Operations; Chris DePippo named Vice President, Chief Ethics and Compliance Officer. Booz Allen Appoints Thad Allen as Senior Vice President. CACI US President, William Fairl, to Retire, Moves to Chief Development Officer Role; CACI COO, Daniel Allen, elevated to President of US Operations; Krisstie Kondrotis as Executive Vice President, Business Development. Booz Allen Appoints Thad Allen as Senior Vice President. (6,800 words) . . . More Monadnock Research Publishes Compilation of 2011 Consulting & Advisory Services Rate Research Monadnock Research (Vol IV, No 42) - 3 Dec 2011 This report (2011 Consulting and Advisory Services Rates - Vol IV, No 42) provides the Monadnock Research analysis of consulting rates from a series of comprehensive studies on negotiated client rates from organizations across a number of industries. Rates have been analyzed and presented across the entire range of consulting practice areas, including: Strategy, Operations, Human Capital, Information Technology, and Financial, Transaction and Risk Advisory. "We thank the many client organizations that made this series of consulting rate research possible," said Mark O'Connor, Monadnock Research CEO and Cofounder. "We believe that the analysis presented in this research report, and that of the previously published practice area reports, represents the most comprehensive study of consulting and advisory services rates ever published." The report is more than 225 pages in length, with over 190 charts and tables. For clients that have purchased individual practice area reports published throughout 2011, this report contains full detail for each of those reports. More information, including a detailed table of contents, can be reviewed on the report summary page: http://www.monadnockresearch.net/products/item54.cfm (460 words) . . . More EC Formally Proposes Order Separating Big Four Audit and Consulting Operations Monadnock Research (Vol IV, No 40) - 2 Dec 2011 MR - The European Commission (EC) has adopted proposals that, if implemented, will dramatically change the way auditors serve public interest entities (PIE), including banks, insurance companies and publicly listed companies. The proposal prohibits firms from providing non-audit services to audit clients. The rules are particularly restrictive for the Big Four, and will obligate them to separate audit activities from non-audit consulting and advisory practices to avoid potential conflicts of interest with clients. According to the EC, "Big firms represent a very large proportion of PIE audits. It is critical that such audits are conducted in an independent manner without any 'pollution' from other commercial interests." Beyond the separation of audit and advisory operations, the change establishes more stringent governance policies for auditors to strengthen their independence and introduces more competition into the highly-concentrated market for PIE audit services. Included among those additional changes are mandatory auditor rotation; transparent bid tendering; audit committee oversight; EC supervision and international coordination of the audit sector; intra-EC auditor professional practice mobility; and less "red tape" for small and mid-sized audit firms. Audit firms will support many of the proposals, but reject separation of the consulting operations as a solution. They also oppose auditor rotation, which the EC has said is fundamental to reform. Research Note includes EC audit reform proposal, impact assessment and firm responses to the proposed regulatory actions. (1,950 words) . . . More And in other news: SAP, Bain, KPMG, Mercer and Gingrich Group Monadnock Research - 3 December 2011 SAP to Acquire Human Capital Management Cloud Services Firm, Success Factors. Bain & Co. Appoints Bob Becheck as Worldwide Managing Director. KPMG introduces corporate business intelligence risk management service for corporate clients. Mercer to acquire Alicia Smith & Associates; Closes acquisition of Censeo. Gingrich faces questions about influence peddling under cloak of "consulting". (693 words) . . . More Lions Gate Sued for Non-Payment Under Terms of Performance-Based Consulting Agreement; Highlights Challenges Small Firms Face in Client Litigation Monadnock Research (Vol IV, No 41) - 1 Dec 2011 MR - A small consulting firm based in Los Angeles, GBB Consulting, has sued Lions Gate Films over non-payment in a performance-based fee arrangement associated with Nicole Kidman's film, "Rabbit Hole". The suit, filed on 22 November 2011, alleges breach of contract. Kidman was nominated for an Oscar and won a Screen Actors Guild (SAG) award for her performance in the film. GBB claims it wasn't compensated for its services and role in helping to secure Kidman's award and nomination. While the claimed damages are only around $115,000, the case highlights the challenges many small firms face in working with larger organizations with significant resources in high-stakes engagements. Research Note includes a copy of the complaint and MR perspective on the consequences of playing hard-ball and cost-shifting to small and mid-market firms in the current economic environment. (740 words) . . . More PwC Partners with Human Capital Consultancy, Aasonn Monadnock Research - 30 Nov 2011 MR - PricewaterhouseCoopers has formed a strategic alliance with Aasonn, a global human capital management (HCM) consulting and technology services company. Aasonn is a global HCM consulting and technology services firm that serves clients in more than 30 countries worldwide from offices in the US, Europe and Asia Pacific . It has application expertise in SuccessFactors and HCM capabilities across multiple industries and HR functions. (250 words) . . . More Green Consulting Practices Assessed in Verdantix Report Monadnock Research - 15 Nov 2011 MR - Verdantix, an independent research firm providing services in the area of sustainable business practices, recently published the results of its 2011 UK Green Quadrant Sustainability Business Consulting study. According to Verdantix, in the last four years a combination of increasing energy expenditures, climate change policy, new market opportunities and shifting competitive dynamics has encouraged FTSE 100 firms to invest in more ambitious corporate sustainability strategies. The Green Quadrant report is positioned to help client business leaders and procurement professionals by presenting a fact-based comparison of the 14 sustainability business consulting firms most active in the UK market. Many of these firms also have top sustainability practice in other global regions. The report found that the following four firms currently lead the UK sustainability consulting market: Deloitte, Ernst & Young, KPMG and PwC. Their position is due to the breadth of their service offerings; depth of expertise in sustainability; and significant investments in internal sustainability programs. The report also found that Accenture, ARUP, Camco, McKinsey and WSP Environment & Energy all have strong practices that are well positioned to address client requirements across the seven sustainability areas assessed in the report. (500 words) . . . More P&G Awards Ernst & Young and Infosys for Supplier Excellence Monadnock Research - 10 November 2011 MR - P&G conferred its highest supplier honor, Business Partner of the Year, upon Ernst & Young, Infosys, and 10 other companies for 2011. E&Y was honored for its non-audit advisory work. P&G has more than 75,000 suppliers globally. This year under 1% of its partners were among those selected for awards. Business partners consistently performing at high levels within P&G's internal performance management system earned an Excellence Award. A total of 86 external partners were recognized this year. Beyond Business Partner of the Year recipients Ernst & Young and Infosys, 12 firms providing consulting services as part of their offering were also 2011 Excellence Award recipients. (450 words) . . . More More News More Research Notes More Firm Research