BearingPoint launches new structure as firm turns 10
Partner-led management consultancy BearingPoint has announced it is ringing in the changes, launching a new operating model as it celebrates its 10th anniversary. The move sees the creation of three regional arms, grouping the firm’s operations in France, Belgium, Luxembourg and Africa; Germany, Switzerland and Austria; and Ireland, the UK, Italy, Sweden, Finland, Norway and the Netherlands.
Earlier in 2019, BearingPoint reported that it had enjoyed a year of consistent growth, despite going through a number of transitions in 2018. Alongside the installation of Kiumars Hamidian as the firm’s leader, BearingPoint also launched a new office in Luxembourg and integrated two firms into its make-up. The consulting firm recorded 4% growth globally, while outpacing the UK and Ireland management consulting market with its growth in the region.
Despite the success it has enjoyed, BearingPoint has no intention of resting on its laurels now, either. As the firm celebrates its 10th anniversary since the management buyout that established it as an independent entity, the Partner-led management and technology consultancy has launched a new five-year-plan, plotting a route to maintain its meteoric growth in the coming decade. The firm’s new Strategy 2025 plan focuses on the goals of putting people in the centre; outperforming the market; enabling European clients to become global leaders; and to be a top-three firm in key areas of expertise.
Kiumars Hamidian, Managing Partner of BearingPoint, said, “Our Strategy 2025 builds on our existing strengths and puts people first. It outlines clear ambitions for the years ahead and focuses our business and differentiates us in the market. We are a European success story because of our strong client relationships, our intellectual property, and our people culture, and I am confident that our Strategy 2025 will keep the success going for us and our clients.”
To deliver the ambitious plan, BearingPoint aims to focus on five key areas of consulting for a clear differentiation in the market, while generating new revenue streams with intellectual property. It is also moving to accelerate the growth of its solutions business, foster greater collaboration between communities for more innovation, and recruit, develop and retain top talent. In order to do this, the firm’s first step has been to “build critical mass within all practices.”
New structure
This has seen BearingPoint combine its practices into three regions in order to have at least 100 people in each practice. The new operating model took effect at the start of September 2019, and has combined its France, Belgium, Luxembourg and Africa practices into an FBLA wing led by FEACO Chair Eric Falque, while Germany, Switzerland, Austria, or GSA, will be led by Iris Grewe, and Ireland and the UK will sit with Italy, Sweden, Finland, Norway and Netherlands in the GROW region, led by James Rodger.
Within these regions, BearingPoint has also structured its operating model into three units. The first unit covers the consulting business with a clear focus on key areas to drive growth across all regions. Earlier this year, BearingPoint established Business Services as a second unit in which it provides IP-driven managed services beyond SaaS and offers business critical services to support the business success of clients. The third business unit provides the software for successful digital transformation and regulatory requirements.
Hamidian explanded, “IP creation is something that we already have in our DNA, and we will emphasise this much more. We want to make sure that the great work done on projects is leveraged across the firm from everyone at BearingPoint. Our people-centric approach is characterised by collaboration and communication and reflected in three dimensions: our clients, where we want to focus on the people aspect behind business transformation; our people, where we want to ensure that BearingPoint is the best place to develop and grow.”
The firm has also ushered in a series of management changes as it enters its new phase. Company stalwart Matthias Loebich, who was with the firm for a decade before it became independent, will lead the Markets area of the Consulting unit that comprises all its industry segments.
Patrick Palmgren will meanwhile take leadership of the newly created business unit covering solutions, M&A activities, and ventures. Damien Palacci, who joined the firm when it took over Arthur Andersen Business Consulting in 2002, is leading the Consulting Portfolio, helping functions of companies with innovative offerings, and joins the Management Committee of BearingPoint alongside Donald Wachs, who leads the Business Services unit.
