BearingPoint opens office in Timisoara, 3rd in Romania

02 November 2015 Consultancy.uk

BearingPoint has opened an office in Timisoara, its third office in Romania. Building on the local ramp-up, the European origin consultancy aims at growing its Romanian business by 40% next year.

With over 3,500 consultants, BearingPoint is one of the globe’s largest management and IT consulting firms. Over the past six years the consultancy has under the leadership of the German Peter Mockler – who currently runs his third term as Global Managing Partner – booked strong growth, growing its revenues to approximately €560 million from €441 million in 2009, the year when the EMEA business completed its management buyout.

Bearinpoint Timisoara - Romania

Nine years ago BearingPoint entered the Romanian market, and since then the firm has expanded its on-the-ground footprint strongly to a team of more than 250 consultants in Bucharest and Sibiu. On the back of an acceleration in growth over the past three years – headcount has grown by a staggering 40% year-on-year – the Netherlands headquartered firm has decided to expand its wings into a third city: Timisoara, with a population of more than 300,000 inhabitants the third most populous city in the country.

The Timisoara hub will mainly serve clients in the financial services sector, supporting among others banks, insurance companies and supervisors. From a functional perspective the focus will be on regulatory reporting and finance projects. Recruitment for consultants has already kicked-off, says Marcel Nickler, Regional Leader for Germany, Switzerland, Austria, Italy and Romania. “Entering the Romanian market has proved to be a real success for us, we have developed a strong brand and are an employer of choice. We strive to hire the most talented consultants in Timisoara.”

The new office will collaborate closely with other BearingPoint country organisations in the region, including Ukraine (opened in April 2013), Austria and Italy, and work together with the Banking, Capital Markets (both headed by Robert Wagner), and Insurance (led by Matthias Höhne) industry practices. “Cross-country and cross-cultural management and teaming is part of our one-firm agenda, hence we live this philosophy also on a regional level,” comments Nickler.

Marcel Nickler, Christian Gurny, Robert Wagner, Matthias Hohne

Looking ahead, Christian Gurny, Country Leader of BearingPoint Romania, says the outlook is bright. The Romanian operations currently books a revenue of €10 million, and foresees growth of 40% for 2016.

Financial services thought leadership
In recent months Consultancy.uk featured three research studies released by BearingPoint’s financial services practice. One study revealed that the Islamic finance market is expected to grow to $3 trillion by 2018, while another highlighted the growing importance of collaboration between banks and start-ups / fintech ventures. The third article looks into operational best practices in the insurance industry, finding that adaptive and agile insurers significantly outperform peers.

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Newcastle consulting firm opens Baghdad office

05 April 2019 Consultancy.uk

A Newcastle-based consultancy has announced it will open its first office in Iraq. The news comes despite warnings that the area remains “high risk” for businesses.

16 years after the start of Operation Iraqi Freedom, the nation remains a shadow of its former self. The continued chaos wrought by the Iraq War – which eventually played a role in the rise to prominence of Daesh, further destabilising the region – means that even now, the nation’s capital is deemed to have the lowest quality of living in the world. According to a recent survey from Mercer, Baghdad ranked last overall – immediately below Bangui of the Central African Republic and Damascus in Syria – despite the other two being determined as the worst cities on the planet for personal safety.

However, as with the wider Middle East, the oil-rich state presents a lucrative destination to businesses willing to take the risk. To that end, a Newcastle recruitment consultancy has announced the opening of its first presence in Iraq’s capital city. Samuel Knight has taken the decision to open its Baghdad locale in order to grow its business in the Middle East.

Newcastle consulting firm opens Baghdad office

While businesses remain wary of the region, Samuel Knight specialises in recruiting talent in the energy and rail sectors, and in a release it said the new office would continue to focus on these areas. It will also allow the firm to make sure it abides by local compliance laws. The new location will be headed up by Haider Kadhim, Samuel Knight’s Iraq country manager, who will work as the first point of contact for clients and candidates. Representatives from the Department of Trade Industry are expected to attend a launch event for the office, which will be held this month.

Commenting on the new office,  a spokesperson for Samuel Knight said, “We probably don’t see it as a risk, but more of an opportunity, as we operate in the Middle East extensively already. We have contacts in place in the country location and with the consultants we have. We felt it was a great opportunity to expand into a country we are already doing work in. It means we have an on-the-ground team to help our clients. From our perspective, it is that we are looking to expand into new territories, but we are also supporting countries that are starting to redevelop after years of warfare.”

Steve Rawlingson, CEO at Samuel Knight, said, “Our aggressive five-year growth plan is manifesting at  an impressive rate, taking the company to exciting new territories. The team is working diligently to surpass expectations set out in the plan, and to ensure Samuel Knight is cemented as the leading global energy and rail recruitment specialist. Our Baghdad office will give us a distinctive edge over our competition and allow for more exciting business opportunities. Once the office becomes more established and client acquisition develops, we will certainly be adding more consultants and manpower in the city.”