UK-based financial services consultancy Crossbridge has been rebranded as Synechron Business Consulting. The move is part of Synechron’s global strategy to harmonise the brands within its management consultancy arm.
In September last year Crossbridge, founded in 2008 by Tim Cuddeford and Ted Rees, was acquired by Synechron, with 6,000+ employees and revenues of over $400 million one of the globe’s larger professional services firms with a pure focus on the financial services industry. With the move, Synechron significantly bolstered its consulting offerings and capabilities, and established a strong foothold in Europe’s most important financials hub. “This acquisition is an important milestone for us and it has been our major strategic objective to strengthen our presence in London, since starting out in the US financial services industry in the early 2000s,” said Synechron’s co-founder and CEO Faisal Husain at the time of the announcement.
As part of the deal, 60+ Crossbridge advisers based in the UK, US and Singapore transferred to Synechron, although the firm continued to operate as a stand-alone unit and under its own brand. Roughly twelve months down the line, the firm’s parent has, in line with its ‘Power of 3’ strategy unveiled earlier this year, fully integrated Crossbridge into Synechron Business Consulting (SBC).
Through the joining of forces with SBC’s existing consultancy footprint in London (which stems largely from Double Effect UK – which also recently rebranded as Synechron Business Consulting), the new entity will, according to Husain, be able to provide an end-to-end global business consulting and technology development solution, from strategy through to execution.
“With Crossbridge fully integrated into Synechron Business Consulting, our global clients will benefit from the team’s proven consulting expertise and their clients will gain access to enhanced global reach, scalability and offshoring capabilities to drive forward their business strategies,” comments Husain.
Reflecting on the milestone, Tony Clark, formerly at Crossbridge and now Managing Director of Synechron Business Consulting UK (a 100+ strong team), says, “Financial services firms are re-defining their business models in light of the digital, regulatory and innovation revolution taking place today. Synechron’s investment into its people and research & development into the latest digital innovations* has allowed us to expand our offerings and capabilities. As Synechron, we are now part of a worldwide workforce of over 6,000 professionals working in 16 locations, delivering an end-to-end client experience that includes business and technology consulting, application development, systems integrations, and much more.”
Yesterday another group of consultancies, former member firms of M&A International, rebranded as Oaklins, while last week financial advisory players Redwood Capital and LD&A Jupiter, changed their name to Drake Star Partners, following their merger.
* In May this year Synechron opened a digital innovation centre in London, its 3rd globally – other centres are based in Dubai and Amsterdam.