BearingPoint strengthens its presence in Luxembourg
International management and technology consultancy BearingPoint is strengthening its presence in Luxembourg and throughout the Benelux countries to serve wealth management and asset servicers in their business transformation at the edge of the digital age.
BearingPoint at a glance
Back in 2000, BearingPoint was founded from a spin-off of KPMG’s consulting business that then acquired most of the Arthur Andersen business consulting practices in Europe. In 2009, the firm’s European partners conducted a management buy-out to create a fully independent consulting firm wholly owned by themselves. Since then, BearingPoint has grown to 4,500 employees active in 22 countries across Europe and has established two strategic alliances in Asia and US to cover the globe. This network encompasses more than 11,000 professionals worldwide, serving clients in more than 55 countries.
“Independence and critical mass in key countries position BearingPoint as a powerful alternative to traditional multi-disciplinary firms.”
BearingPoint has three business areas: Consulting; Solutions, which develops tools for digital transformation, regulatory technology or big data; and Ventures, which is active in the financing and development of innovative start-ups.
The Luxembourg marketplace
BearingPoint already serves more than 30 clients in Luxembourg through its Solutions business unit. Its FiTax and Easy Tax proprietary software solutions manage reporting responsibilities both for clients and tax authorities. Meanwhile, the Abacus platform covers all prudential reporting, including Basel II and Solvency, as well as regulatory reporting including MiFID II and MiFIR, EMIR and now the SFTR. The company anticipates strong growth in the coming months, because existing clients can now build a stronger and closer relationship with BearingPoint, and they can benefit from the other activities of the group, especially the Consulting and Ventures businesses. In terms of financial service capabilities, for example, BearingPoint offers a local team of skilled consultants supported by more than 1,000 specialists based in Germany, Belgium, France, UK, Switzerland and Scandinavia, who between them can solve the most complex problems that clients may face. Moreover, a presence in eastern and southern Europe enables the firm to continue serving clients that opt for ‘nearshored’ operations and IT. Being an independent and pure consulting player but with critical mass in all European countries, positions the firm as an alternative to traditional multi-disciplinary firms. A key validation of its model comes from the international players that have chosen us to assist their cross-border projects by integrating BearingPoint teams in Frankfurt, Luxembourg and Paris.