Consulting firm BearingPoint has sealed a strategic partnership with Cumbria Financial Services Consulting, a Spanish-based management consultancy. Under the partnership, both firms will work together in Europe in order to improve their capabilities and footprint towards companies in the financial services market.
BearingPoint is an international management and technology consultancy. It was established in 2002 after KPMG Consulting decided to change its name to BearingPoint. BearingPoint currently has 3.350 employees in more than 70 countries and in addition strategic alliances with ABeam Consulting (Asia) and West Monroe Partners (North America).
Cumbria Financial Services Consulting is a business consulting firm that specializes exclusively on clients in the financial sector. Since its founding in 2005 in Spain it has grown with double-digits year-on-year and currently has offices in Madrid, Barcelona, Bogota and Mexico City.
The agreement focuses on the financial services market and embraces a few pillars. Firstly, both consulting firms will refer business opportunities in locals markets for which they have no presence. If for instance Banco Santander, one of Cumbria's many banking clients, would require consulting assistance in the Netherlands, then it will pass the lead on to BearingPoint Netherlands. And vice versa, for BearingPoint’s clients having a need for services in Spain. Secondly, both firms have agreed the intention to collaborate on client work, both for joint (international) projects as for projects where a synergy may exist. Conclusively, BearingPoint and Cumbria will share intellectual capital.
"As Cumbria is the largest financial services consultancy in Spain, it is the ideal consulting partner for us. With this alliance we will be able to proactively support our clients in Spain, as well as provide comprehensive consulting services for Spanish financial institutions in an international environment" says Robert Wagner, global lead of the BearingPoint's Financial Services practice.