L.E.K. Consulting launches Payments practice

20 February 2024 Consultancy.uk 2 min. read
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Global strategy consultancy L.E.K. Consulting has launched a Payments practice, led out of its London office.

The Payments practice will help clients in the financial services industry and sectors that rely strongly on payments (retail, mobility, etc) with strategy and top-line growth through innovation, mergers and acquisitions, and performance improvement.

“Our clients have been seeking quality advice in this rapidly evolving space,” said Ashish Khanna, Head of the Financial Services industry vertical at L.E.K. Consulting. “We are delighted to now meet this demand, as part of the continued expansion of our financial services team.”

L.E.K. Consulting launches Payments practice

Leading the new wing are the duo Doug King and Richard Mould, appointed Co-leaders of the Payments practice. Both have extensive experience across payments, gained in industry and in management consulting.

Prior to joining L.E.K. Consulting, Doug worked at Barclays Bank, EY-Parthenon and Deloitte in a variety of advisory roles across the UK, Europe, US and the Middle East. Doug started his career as an associate at L.E.K. Consulting in 1998.

Commenting on his new appointment, Doug said: “The payments industry is undergoing a tectonic shift. Technology is rapidly transforming how people and businesses interact, and customers now expect faster, cheaper, and more reliable digital services as a result. It is an extremely exciting time to be working at L.E.K. Consulting with leading market innovators as they seek to navigate this change, discover new value creation opportunities and define the future of the industry.”

Richard Mould has extensive industry knowledge in retail financial services with a particular focus on payments, lending and innovation, advising clients on how to strategically deliver revenue growth and shareholder value amid changing regulatory landscapes. He started his career as an associate at L.E.K. Consulting in 1996 after spending almost two decades working at financial institutions such as Nationwide Building Society, Barclays Bank, and Open Banking.

On his new role, Richard commented: “Payments matters. It is probably the most common interaction customers have with their financial services provider and it is the embodiment of commerce. I am thrilled to be returning to L.E.K. Consulting to leverage the phenomenal capabilities of the firm and help clients uncover sources of value in this exciting arena.”