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Deloitte Onch Launches in Mongolia
Deloitte Touche Tohmatsu Limited (DTTL) has established a new member firm in Mongolia after reaching an agreement with Mongolian professional services firm Onch Audit. The new firm, Deloitte Onch LLC, will offer a full range of professional services in addition to audit, including consulting, financial advisory and tax to clients in Mongolia. Mongolia is one of the fastest-growing markets in the world, with significant untapped natural resources in gold, copper, coal, molybdenum, fluorspar, uranium, tin and tungsten. Deloitte Onch will continue to be led by its founder, Ms. Onchinsuren Dendevsambuu. (460 words) . . . More
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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
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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
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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
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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
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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
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2011 Strategy Consulting Rates
Monadnock Research (Vol IV, No 37) - 28 Oct 2011
This study presents an analysis of hourly strategy consulting rate structures for global 1000 clients across a number of industries. Rates from 70 firms were analyzed across the strategy consulting category, including a total of 119 firm-rate structures. Each section presents descriptive statistics for each of the Monadnock Research professional areas, including mean, median, range, min, max, and the number of rate structures analyzed. Each labor category is described in full detail, including experience and education requirements, and includes a percentile analysis of hourly rates. Rates from firms that were a subject of this analysis for the strategy consulting rate category included: McKinsey & Co., the Boston Consulting Group (BCG), Bain & Co., Booz&Co, Accenture, Deloitte, LEK, Roland Berger, Oliver Wyman, Capgemini, IBM, and PwC. Research Note includes 6 graphics, 15 tables and 8,230 words. The companion report is more than 80 pages and contains 52 tables and charts. . . . More
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And in other news: CSC, HP, Deloitte, Accenture, and McKinsey
Monadnock Research - 25 October 2011
(MR) CSC takes heat for repeated Google apps delays at the City of Los Angeles, highlighting the down-side of information security concerns for cloud-based applications. HP decides to retain PC division to maintain breadth of client systems, software and services offerings. Accenture completes acquisition of Zenta. Deloitte signs strategic partnership with QlikTech for business discovery. Deloitte expands cloud consulting offering. Accenture Launches Global Social Media Innovation Center in Silicon Valley. CSC introduces FutureEdge, to help clients modernize in-house developed application portfolios. Accenture and Guidewire settle patent litigation; Guidewire to pay undisclosed sum and firms agree to cross-license patents. Former McKinsey consultant, Reza Banki, released from jail after convictions on three of five charges are reversed on appeal. (1,676 words) . . . More
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Deloitte Announces Record Fiscal 2011 Revenues; Consulting Proportion of Business Continues to Grow Rapidly
Monadnock Research (Vol IV, No 31) - 23 Sept 2011
MR - Deloitte has announced fiscal 2011 aggregate member firm revenues of $28.8 billion for the year ended 31 May. It was the highest revenue ever recorded by Deloitte's global member firm network. The functional areas leading Deloitte's growth were financial advisory and consulting, which grew 15.1% and 14.9%, respectively. That compares to the audit and enterprise risk services segment that grew by 4.7%, and tax services, which grew at a 5.2% rate. Consulting growth was driven largely by implementation services. Growth areas include integration of regulatory knowledge with strategy, technology, and human capital skills, and post-merger integration, with strong growth in financial services. Financial advisory expansion was fueled by growth in valuation, restructuring, forensic services, analytics, and M&A transaction services driven by investments in emerging markets that included China, India and Brazil. Aggregate revenues grew 8.4% in US dollars and 7.7% in local currency -- the strongest revenue increase since 2008. Compound aggregate growth for 2005-2011 was 8%. Deloitte hired 49,000 professionals and exceeded headcount expectations, adding a net 12,000 jobs globally. Its total professional workforce is now 182,000 globally, and its total workforce is expected to grow to 250,000 professionals by fiscal 2015. Research Note includes MR perspective on the growing proportion of consulting to audit services. (3 charts and tables, 1,280 words) . . . More
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IHS Signs Strategic Alliance with Deloitte
Monadnock Research - 23 Sept 2011
MR - IHS has entered into a strategic alliance with Deloitte Consulting to leverage what the firms say are combined organizational strengths, providing content, software, analytics and services to help clients address a variety of business priorities. IHS is a leading global provider of research and statistical information, including country and industry forecasting, commodity statistics, pricing and cost data. The companies will work together initially to develop and offer services and solutions to customers in the oil and gas, utilities, metals and mining, aerospace and defense, chemicals, manufacturing and government sectors. (650 words) . . . More
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Consulting Leadership News: Ernst & Young, KPMG, Accenture, Capgemini, PwC, NERA, Deloitte, BearingPoint, Navigant, and BCG
Monadnock Research - 29 July 2011
MR - Ernst & Young announces 548 new partners worldwide; Appoints Herb Engert as the new Americas Leader of Strategic Growth Markets. KPMG International Chairman-elect, Michael Andrew, appoints global leadership team. Accenture names Paul Daugherty as Chief Technology Architect and Gavin Michael Chief Technology Innovation Officer. Accenture has also named Jorge Benitez managing director -- North America and Chief Executive. Capgemini will train 1,500 architects and developers globally on the Windows Asure cloud platform to support new partnership. Aon Appoints Greg Besio as Chief Human Resources Officer. BCG named former ING Group COO, Thomas J. McInerney, as Senior Advisor. PwC US Appoints Robert W. McCutcheon as New Industrial Products. Leader. Energy Expert Scott Bloomberg Joins NERA Economic Consulting. BearingPoint appoints 6 new Partners. Deloitte appoints Chris Harrop to lead nuclear capital programs. Navigant appoints William Hardin within Disputes & Investigations practice. Navigant appoints William Hardin within Disputes & Investigations practice; Adam Borison, PhD, has joined the firm's Energy Practice as a Director; Names Adam Borison, PhD, as Energy Practice Director (4,800 words) . . . More
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2011 IT Strategy Consulting Rates
Monadnock Research (Vol IV, N22) - 7 July 2011
This is the Strategy Consulting companion Note to the IT Consulting Research Note published in June. This study analyzes comprehensive IT strategy consulting rate structures of clients across a number of industries, including manufacturing, healthcare, pharmaceuticals, biotech, high tech, communications, energy, financial services, public services, and metals and mining. More than 80 percent of the rate structures were from global entities, and all were from organizations that fall within the 1,000 largest global organizations. Rates from 63 firms were analyzed across the IT Consulting and IT Strategy Consulting service categories, with 110 rate structures. Rates from firms that were a subject of this analysis include: Accenture, Atos Origin, AT Kearney, Bain, BCG, Booz, McKinsey, Capgemini, CSC, Deloitte, IBM, KPMG, Oliver Wyman, PA Consulting, PRTM, PwC, TCS, and Wipro. This Research Note presents statistics across 14 professional categories, including detailed descriptive statistics, a percentile analysis for each labor category, and strategy rate differential premiums for each labor category. (2 graphics, 14 tables, 6,350 words) . . . More
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And in other news: CACI, KPMG, Deloitte, Beacon Partners, Virtusa, Primary Global Research, and Broadband Research
Monadnock Research - 3 July 2011
(MR) CACI completes acquisition of Pagnia Technologies. Class action suit against KPMG alleges it "mommy tracked" female professionals. Pennsylvania Court rules in favor of Department of Public Welfare award to Deloitte. Beacon Partners acquires Healthcare Innovation Solutions. Virtusa acquires ALaS Consulting for $27.8 million. Former Flextronics exec and moonlighting consultant pleads guilty to conspiracy and securities fraud. (575 words) . . . More
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EC Commissioner Barnier Considers Prohibiting Auditors from Offering Consulting
Monadnock Research (Vol IV, N 21) - 1 July 2011
MR The EC Commissioner for Internal Market and Services, Michel Barnier, addressed a conference of the Federation of European Accountants on 30 June, and advocated for a number of auditor regulatory changes that could include a total ban on audit firms providing consulting services and mandated rotation of auditors. Barnier is the EC official responsible for the Internal Market and Services Directorate General and Office for Harmonization in the Internal Market. Speaking before the federation of European CPA's Barnier intimated that he believes the regulatory environment for auditors in Europe is deeply flawed and in need of reform. He proposes the EC focus on: auditor independence issues; opening of the audit services market; and a more integrated European auditor regulatory and certification environment. The issue of auditors offering consulting and advisory services was addressed in his remarks. He believes that a key factor that fuels excessive familiarity between auditors and their clients lies in providing too many consulting and non-audit advisory services. Barnier asks, "How can we view an auditor as independent when the firm also advises the client in the area of strategy?" Research Note includes translation and interpretation of key points from speech associated with consulting. (865 words) . . . More
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And in other news: Accenture, CSC, Medtronic, Capgemini, Deloitte, and Philippine Airlines
Monadnock Research - 23 June 2011
MR - Accenture announces strong quarterly results; finalizes Nokia Symbian deal; S&P 500 to include ACN. CSC receives antitrust clearance to acquire iSOFT. Thomson Reuters acquires CorpSmart from Deloitte. Surgeons that failed to report Medtronic clinical trial complications in research received at least $62 million in consulting and other fees from the company. Capgemini in exclusive negotiations to acquire Prosodie. Judge rules in favor of Philippine Airlines in success fee dispute. Another expert network consultant found guilty of fraud for disclosing confidential information. (857 words) . . . More
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Deloitte Acquires AJM Petroleum Consultants
Monadnock Research - 23 June 2011
MR - Deloitte Canada has acquired AJM Petroleum Consultants. The firm will operate as AJM Deloitte. With the acquisition, Deloitte Canada introduces a fully-integrated financial, technical, analytical and advisory offering to clients in energy, including mergers, acquisitions, and divestitures. AJM Deloitte will operate out of Deloitte's newly created Energy and Resource Advisory Service in the Financial Advisory practice. (345 words) . . . More
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Consulting Leadership News: Deloitte, PwC. Mercer, Sopra, Navigant, E&Y, FTI, Logica, Point B, KPMG, US DoD, and Citigroup
Monadnock Research - 5 June 2011
MR - Deloitte LLP elects Punit Renjen Chairman and Joseph Echevarria CEO; Jim Moffatt, Chairman and CEO of Deloitte Consulting LLP; Carl S. Allegretti as Chairman and CEO Deloitte Tax LLP; General Charles F. Wald as Director and US Department of Defense (DoD) consulting practice lead; and Deloitte's UK affiliate names 63 new partners. Richard Neiman joins PricewaterhouseCoopers as Vice Chairman of Global Financial Services Regulatory practice; Dr. Harry Broadman appointed Managing Director, Chief Economist and Leader of the Emerging Markets, Governance, and International Investment & Trade advisory practice group within PwC Forensics Services; and Keith Hubert, Managing Partner of the Hartford, Conn. office and leader, and leader of PwC's Northeast Insurance Services practice. Jimmy Johansen appointed Head of Mercer's Nordic International Consulting Group and International Leadership Group Member for EMEA; Michael Shore joins Mercer as Principal in Information Product Solutions consulting practice. Sopra appoints Christian Levi as Head of Sopra Consulting. Navigant's current Vice President and Controller, David Wartner, named Vice President, Operations and Treasurer; Scott Harper, Controller of Navigant's Disputes and Investigations segment, named Corporate Controller; Mary Jo Neville, current Segment Controller of Navigant's Business Consulting segment, named Segment Controller of Navigant's Disputes and Investigations segment; and F. Wayne Elggren joins Navigant's Disputes & Investigations practice as a Managing Director. Ernst & Young appoints Maria Pinelli as Global Vice Chair for Strategic Growth Markets practice. FTI Consulting names Lord Malloch Brown as Chairman of EMEA operations. Logica appoints Himanshu Raja as CFO and Executive Director of the Board. Point B appoints Michael Dickstein as Chief Marketing Officer. KPMG faces $350 million gender discrimination class action. Former Dutch Healthcare Cabinet Minister, Ab Klink, joins Booz & Co. Shay Assad appointed Director of Defense Pricing within US Office of the Under Secretary of Defense. John Catero appointed Citigroup Senior Vice President for US professional services procurement. (4,575 words) . . . More
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Consulting Leadership News: KPMG, Infosys, Deloitte, Ernst & Young, PwC, Hayes, PFK, and Ciber
Monadnock Research - 13 May 2011
MR - KPMG appoints Michael J. Andrew as Global Chairman, succeeding Tim Flynn in October 2011. N. R. Narayana Murthy's replacement at Infosys announced; Murthy appointed Chairman Emeritus; K. V. Kamath named as the Chairman of the Board; S. Gopalakrishnan named as the Co-Chairman of the Board; S. D. Shibulal named as the Chief Executive Officer and Managing Director. John McCue appointed leader of Deloitte's Energy & Resources Industry and Power & Utilities sector. Ernst & Young names Preston Thompson as Executive Director within its Financial Services Advisory practice; Mal Postings as the Chief Technology Officer within the IT Advisory Services practice; David White as Principal and Kristin Valente as Partner within Portland Advisory Practice; and Nathan Ives within its Power & Utilities Advisory Services Practice. Paul Williams Joins PwC US' Real Estate Business Advisory Services Practice. Robert Drewniak named leader of Hayes Management Consulting's Strategic & Advisory Services group. Andrea Foster Rejoins PKF Consulting USA as Vice President. CIBER Names Jayant Mehta Vice President of Business Solutions. (3,145 words) . . . More
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Consulting Leadership News: Deloitte, FTI Consulting, Censeo, Ernst & Young, CSC, Navigant, Capgemini, and Wipro
Monadnock Research - 28 April 2011
MR - Deloitte LLP elects Joseph Echevarria CEO and Punit Renjen Chairman; Harry Greenspun, M.D., joins Deloitte Center for Health Solutions; Bob Contri appointed U.S. financial services industry group leader. FTI Consulting appoints William M. Isaac as Senior Managing Director and head of the Financial Institutions Group. Kareem El-Alaily and Mark Klupt join Censeo as Principals; Steve Krauss joins as Corporate Development Officer; Barbara Meachin joins as Director of Professional Development; Dr. Timothy Laseter transitions from COO to commercial practice leader. Jonathan Dharmapalan appointed to lead Ernst & Young Global Telecom Center. CSC has named Alisoun Moore vice president and general manager for its North American Public Sector (NPS) Health Services Division. Greg Campanella and Kevin McHugh join Navigant Capital Advisors' Valuation & Financial Risk Management practice as Managing Directors. Capgemini Government Solutions has named Sandra Gillespie a Vice President in the Federal Government practice. Successor to Infosys founder, N R Narayana Murthy, to be announced 30 April. (2,590 words) . . . More
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Honest Services Crisis: Professional Poison and the Chicago Connection
Monadnock Research (Vol IV, No 11) - 30 Mar 2011
This Research Note was written by Monadnock Research CEO and Cofounder, Mark O'Connor, for re:TheAuditors, Francine McKenna's Big Four Weblog. The article has been published in its entirety at www.retheauditors.com; no subscription required. Research Note includes 7 recommendations for clients and firms to minimize risk; Big Four firm metrics; recognition of 2010's best and worst examples; three graphics; and 45 minute audio version. (6,200 words). . . . More
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2011 Big Four Consulting and Advisory Services Rates
Monadnock Research (Vol. IV, No. 10) - 17 Mar 2011
MR - This Monadnock Research Note summarizes the findings of a recent client study into Big Four consulting and advisory services rates. Since we find that rate data for the Big Four is not particularly useful unless it is presented across individual rate categories, this Note provides median rates for firms across the following 12 categories: Strategy; Operations; Accounting and Financial Strategy; Legal, Forensic and Risk Advisory; Internal Audit and Compliance; Transaction Advisory; Tax Advisory; Performance Services; IT Audit; Human Resources; IT Consulting; and IT Strategy. Research Note includes 4 charts. (850 words) . . . More
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Big Four Advisory Practice Rankings
Monadnock Research (Vol IV, No 9) - 17 March 2011
MR - Global non-audit advisory services of Big Four firms, including tax services, again broke the $50 billion (USD) mark in fiscal 2010 after retreating briefly in 2009, representing a 3.23 percent increase over 2009 levels. Total non-tax advisory services of Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young were $27.8 billion, an increase of 8.1 percent over fiscal 2009. This Monadnock Research Note ranks the Big Four firms across their non-audit service categories. It also includes ratios of audit to non-audit advisory work for the Big Four, and provides MR perspective on what it all means to buyers, sellers, and regulators of associated services. Research Note includes 6 charts. (3,075 words) . . . More
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Australia's Access Economics Joins Deloitte
Monadnock Research - 5 March 2011
MR - Access Economics has agreed to combine with the Australian affiliate of Deloitte, creating a leading economics advisory practice will be known as Deloitte Access Economics. The transaction comes two months after SAHA Australia, an economic and infrastructure advisory firm in the transport, logistics, energy, water and resources sectors, also joined Deloitte. They will join Deloitte's existing Economics & Infrastructure Advisory group. (575 words) . . . More
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SAP Seeks Dismissal as Party in Marin County Suit
Monadnock Research (Vol. IV, No. 5) - 23 Feb 2011
MR - SAP has filed a motion to dismiss it as a party in Marin County California's U.S. Federal suit against SAP and Deloitte. SAP 's motion claims that the County's case should be dismissed because it fails to make a claim upon which relief can be granted, and does not support the allegations. Marin County claims that Ernest Culver, the County's former Assistant Auditor-Controller and SAP project director was interviewed for employment by Deloitte while he was inappropriately authorizing expenditures for services, and was offered numerous meals as bribes. SAP's motion provides evidence that the County provided written consent before SAP interviewed Culver for the position it now holds. SAP also filed to take punitive and exemplary damages off the table. Research Note includes copies of motions to dismiss and to strike punitive and exemplary damages, as well as other case materials including Deloitte and SAP agreements with the County, with fee schedules. (1,130 words) . . . More
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Consulting Leadership News: Wipro, Accenture, Segal Advisors, Deloitte, Booz Allen, PwC, KPMG, and Proudfoot
Monadnock Research - 10 February 2011
MR - Wipro Technologies announces major reorganization; Kirk Strawser continues to lead Wipro Consulting. Accenture names Sander van 't Noordende as group Chief Executive of Management Consulting, succeeding a retiring Mark Foster; Jean-Marc Ollagnier succeeds van 't Noordende as group Chief Executive of Accenture's Resources operating group; Shawn Collinson is appointed Senior Managing Director,Growth & Strategy, succeeding Karl-Heinz Floether who will retire later in 2011; Avinash Vashistha is appointed country Managing Director and Co-Chairman of Accenture India; and Kay Kapoor is named U.S. federal government practice leader. Daniel F. Westerheide, Vice President and Consultant, was named Asset/Liability Modeling Practice Leader at Segal Advisors. Deloitte appoints Bob Contri as leader of U.S. Banking and Securities Sector practice, and as a Vice Chairman, succeeding Jim Reichbach, who continues to lead the overall Financial Services Industry group; Former Director of the U.S. FDIC Division of Resolutions and Receiverships, Mitchell L. Glassman, joins Deloitte Consulting as Director. Booz Allen Hamilton appoints Mark Gaumond to its Board of Directors. PwC Appoints U.S. Department of Treasury Executive, Douglas W. Roeder, within its Financial Services Regulatory Practice. KPMG Switzerland has appointed Marc Gossi as its new Head of Performance & Technology. Alexander Proudfoot appoints John Sharman to Head Global Procurement Practice. (2,742 words) . . . More
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$115 Million Marin County Case Moves to U.S. Federal Court; Deloitte Positions Advance in State and Federal Cases
Monadnock Research (Vol. IV, No. 3) - 7 Feb 2011
MR (Vol. III, No. 3) - California's Northern Federal District Court has agreed to hear Deloitte's request to have the second of two Marin County suits filed in 2010 adjudicated by a referee, prior to Deloitte Consulting's requirement to respond to the allegations. The court separately granted SAP an extension of 21 days to file its response, now due on 24 February, finding that SAP had no similar agreement with the County to have its disputes heard by a referee. Marin agreed to allow SAP's extension on the condition that SAP withdraw its referee request. Marin opposed Deloitte's ex parte application seeking an extension of time, because it was unwilling to withdraw its referee request. Four tort causes of action were also alleged by the County in the ongoing State action, but a Deloitte demurrer on the torts was sustained by the referee appointed in that case, leaving only Deloitte's alleged violation of their implementation services agreement terms. The matters continues to present an excellent example of the risks and consequences of failed consulting projects, and of what motivates clients and firms throughout the process. The focus of this piece is contract disputes involving clients of professional services firms and their unique characteristics and challenges in litigation. (Research Note includes MR recommendations on key issues; copies of 16 court filings; and the agreement between the parties at the center of the current dispute. 2,485 words) . . . More
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Deloitte CEO James Quigley and Alchemy's Baghai Publish Leadership Book, "As One;" Service Offering Launched Through Center for Collective Leadership
Deloitte & Alchemy - 3 February 2011
MR - Deloitte Touche Tohmatsu Limited global CEO James Quigley and Mehrdad Baghai of Alchemy Growth Partners have recently published a new book entitled "Collective Leadership: As One: Individual Action, Collective Power." The book focuses on the challenges and opportunities presented in creating an environment for large groups to work together toward a common purpose. The authors say the research debunks the myth that there are only two major styles of leadership - command-and-control and the newer collaborative model. The study undertaken for the book reviewed more than 60 cases of successful, collective leadership behavior over two years. The As One" framework includes eight distinct leadership archetypes: Architect and Builder; Producer and Creative Team; Senator and Citizens; Community Organizer and Volunteers; Captain and Sports Team; Conductor and Orchestra; General and Soldiers; and Landlord and Tenants. Deloitte also announced an associated service offering. The newly-created Deloitte Center for Collective Leadership will advance the study of As One through research, data collection, and analysis. (645 words) . . . More
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Deloitte Forecasts 2011 Trends in Technology, Media, and Telecom
Deloitte - 20 January 2011
MR - Deloitte sees smartphones, tablets, and netbooks, representing 465 million of the 815 million computing device units to be sold in 2011, according to the tenth annual Deloitte forecast of top trends in technology, media, and telecommunications. Deloitte's other predictions: No standard will emerge for smartphone or tablet operating systems. Enterprises will purchase more than 25 percent of all tablet devices in 2011. The percentage of businesses in developed countries that use at least one eGovernment service will increase to 90% from 75%. Calls for online privacy and regulation will increase, but broad use of cookies continues. Battery technology advances, but at a much slower pace than technology in the platforms it powers. Hydrogen's promise will get some traction in 2011, but not in the automotive sector. Television's growth in share of advertising revenue will continue to eclipse all else. DVR penetration will reach 50 percent in the U.S. and U.K., advertising revenues will be unaffected. "Push"-based TV programming continues to beat "pull." Social network advertising increases significantly in penetration, but not as a source of revenue. Online gaming shows a redistribution of revenue. Live performances will diversify to combat the effect of aging acts, led by music festivals. Temporary pop-up retail music outlets jump to 1,000 to meet demand; On-line music sales in at least one category will outpace legacy CD sales. 3G technology continues to be viable; 4G wireless networks not yet in large-scale carrier adoption. Volume of data transferred over public WiFi to outpace cellular broadband volume. Twenty-five percent of big-box stores will offer free in-store WiFi to customers. Video calling will be cheaper, better, and more widely available than ever, but a demand-spike is unlikely. (1,950 words) . . . More
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Big Strategy 2011: Consulting Rates and Guidelines for Working with the World's Largest Strategy Specialists
Monadnock Research (Vol. IV, No. 2) - 15 Jan 2011
MR - Literally thousands of firms consult in the area of strategy, but a very small number of large firms view strategy as their core focus. This Research Note focuses on "Big Strategy," or who we view as the world's largest strategy specialists. Working with these firms is different. And there are a number of reasons why it is important for consulting clients to understand the differences. This Research Note provides our estimates and perspectives on: 2011 mean and median rates, and rate ranges by category of professional; average strategy engagement duration; unique project characteristics; what makes firms in this category unique and distinct from large multi-line firms providing similar services; and how to effectively maximize engagement value. Note also provides important keys to better understanding how the rate structures of strategy specialists can be assessed and compared to hourly rate structures of other providers of strategy consulting. (three graphics - 3,045 words) . . . More
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Deloitte Acquires Altos Management Partners and MarketPoint
Monadnock Research - 14 Jan 2011
MR - Deloitte has acquired substantially all of the assets of Altos Management Partners, Inc., a consultancy to energy companies, as well as those of Altos sister company MarketPoint, best known for MarketBuilder, an analytic suite for energy market modeling and price forecasting. Deloitte says the acquisition will help its clients gain a better understanding of market fundamentals for energy commodities, including oil, gas, refinery products, electricity and coal. (420 words) . . . More
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Marin County Escalates Battle with Deloitte; Sues SAP and Former County Controller
Monadnock Research - 23 December 2010
MR - California's County of Marin has escalated its Deloitte litigation to include SAP and the county's former Assistant Auditor-Controller, Ernest Culver, as co-defendants. It also claimed nine additional violations of U.S. Federal RICO statutes and illegal conduct, including a violation of a California anti-corruption statute. Marin continues to assert that Deloitte consultants didn't have the requisite skills to implement SAP's public sector application suite, and that SAP falsely backed-up Deloitte's competence claims. When problems with the implementation began to surface, Marin now alleges that Deloitte and SAP engaged in a cover-up that included bribing Culver to falsely approve invoices and attest to Deloitte's completion of contract deliverable milestones. The bribery assertions include that Deloitte repeatedly treated Culver to lavish meals, as part of the fraudulent conduct. The complaint also asserts that an SAP employee attempted to intervene on the County's behalf, but was silenced. The County seeks $35 million in damages, which can be trebled under RICO statutes. This would bring the potential litigation award to $105 million, not including punitive damages, which the County also seeks. (675 words) . . . More
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Deloitte Acquires Ireland's Curach Consulting
Monadnock Research - 16 December 2010
MR - Deloitte Ireland has acquired Curach Consulting, a leading Irish consultancy. Curach has around 70 staff and provides services to clients across a number of sectors, including financial services, technology, and public services. Curach's service areas include: Customer and Channel Management; Operations and Process Management; IT Strategy and Architecture; Business Intelligence and Performance Management; and Program and Project Management. (605 words) . . . More
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Deloitte Acquires Clear Carbon Consulting and DOMAINI Sustainability Consulting
Monadnock Research - 14 December 2010
MR - Deloitte has acquired the assets of ClearCarbon Consulting and DOMANI Sustainability Consulting. Deloitte plans to integrate the firms into its sustainability services practice, but the firms will operate on an interim basis as ClearCarbon by Deloitte and DOMAINI by Deloitte. The transactions are a significant step for Deloitte toward building a leading sustainability services practice. (730 words) . . . More
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Deloitte Tax Partner and Six Others Charged with Insider Trading Based on Confidential Client Information
Monadnock Research (VIII N60) - 3 December 2010
MR - An international insider trading investigation has resulted in the U.S. Securities and Exchange Commission (SEC) filing charges against two former Deloitte employees, a husband and wife. Arnold and Annabel McClellan were charged with allegedly leaking confidential merger and acquisition information regarding 7 Deloitte clients, including Microsoft's 2007 acquisition of aQuantive and Hellman & Friedman's acquisition of Kronos that same year. The complaint alleges that on numerous occasions confidential information was leaked to family members and subsequently to their associates in the U.K. Arnold McClellan provided tax and other advisory services to Deloitte's M&A Tax clients, and Annabel McClellan, who also worked for Deloitte, worked in the firm's London, San Jose, and San Francisco offices. Five individuals were charged criminally for their alleged complicity by the U.K. Financial Services Authority (FSA). Research note includes details on the allegations, clients, individuals charged, and a copy of the complaint. (1,160 words) . . . More
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Roland Berger Terminates Discussions with Deloitte
Monadnock Research - 21 November 2010
MR - Munich-based Roland Berger Strategy Consultants has decided not to join forces with Deloitte. The Financial Times reported that a vote against the combination was carried by a Roland Berger partner margin of close to 100 percent. Given the overwhelming lack of support within the Roland Berger partnership, it is surprising that the negotiations made it as far as it did before falling apart. Partners from 26 countries voted for internationalization of the firm at the summer 2010 management meeting. The Deloitte combination would have financed that. The Times is reporting that Roland Berger partners now plan to finance the global expansion from their own funds, including a 50 million euro contribution from Roland Berger himself, who is now the firm's Honorary Chairman. (381 words) . . . More
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Consulting Leadership News: Deloitte, Capgemini, Equaterra, True Partners, and Capco
Monadnock Research - 17 November 2010
MR - Deloitte hires Traverse Technologies team to form Geospatial Analytics practice; Names Leader of technology sector within UK Technology, Media, and Telecoms Industry practice; Appoints Co-Head of Centre for Regulatory Strategy. Capgemini Group appoints Global Leader of IT Infrastructure Projects and Consulting Services. EquaTerra names former Accenture Partner as Client Executive in ERP Advisory Practice. True Partners appoints team to launch New York City office; Names U.S. Unclaimed Property Practice Director; and Capco has appointed Mark Connolley as UK Finance, Risk & Compliance practice lead. (1.170 words) . . . More
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Deloitte in Talks to Acquire Roland Berger
Monadnock Research (VIII N57) - 17 October 2010
MR - Not to be outdone by PwC, Deloitte hopes to trump PricewaterhouseCoopers' purchase of Diamond Management and Technology Consultants with the acquisition of the venerable Munich-based Roland Berger Strategy Consultants. The new firm would be called Roland Berger Deloitte Strategy Consultants. Martin Wittig, Roland Berger's recently-appointed CEO, would reportedly serve in the same position at the new entity. The deal may be officially announced as early as year-end. It is not a foregone conclusion that a transaction will ultimately take place, as we saw with the Booz merger with A.T. Kearney that recently fell apart. Transactions involving private consultancies are much easier to entertain than conclude and successfully integrate. Roland Berger retired from leadership of the firm that bears his name in late July 2010 to become Honorary Chairman. (520 words) . . . More
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Deloitte Claims Largest Global Professional Services Firm Title from PwC, by .03 Percent Margin
Monadnock Research (VIII N45) - 5 October 2010
MR - Deloitte has claimed the title of largest private professional services firm globally for the first time, beating out PwC by $9 million (US), a margin of just .03 percent. Aggregate member firm fiscal 2010 revenues were $26.578, as previously announced, essentially unchanged in local currency terms. PwC announced fiscal 2010 revenues of $26.569 billion this week. Deloitte surpassed PwC in both revenue and headcount. For the fiscal year ended 31 May, Deloitte had aggregate member firm employees of around 170,000, compared to PwC's 161,000. Revenues grew just 1.8 percent from $26.1 billion in fiscal 2009. Consulting was the only segment that grew, increasing by 14.9 percent to $7.9 billion. Audit revenues slipped by 1.4 percent to $11.7 billion (US). Financial advisory was down by 1.6 percent, and tax revenues slipped by 5.3 percent to $5.4 billion. Research Note includes 4 graphics. (1,005 words) . . . More
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Consulting Leadership News: HP, KPMG, Deloitte, E&Y, True Partners, Baker Tilly, and Kobe Institute
Monadnock Research - 30 September 2010
MR Former Booz Sr. Partner and Oracle President Ray Lane appointed HP Non-Executive Chairman; Former SAP President Léo Apotheker named HP CEO and President. KPMG Canada names 70 new partners, Associate Partners, and Executive Directors. Deloitte has appointed Heather Devine as a director within its U.K. business model optimization practice. E&Y plans to hire 6,000 students in the next 12 months. True Partners Consulting has appointed Robert M. Gordon and Samantha R. Petersen as managing directors. Baker Tilly appoints Jeffrey Smith as Principal in U.S. Federal Government Practice. Former McKinsey consultant, Toshiki Sumitani, named President of Japan's Kobe Institute of Computing. (1,480 words) . . . More
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