BearingPoint and West Monroe Partners in Global Alliance
As many may recall, the US BearingPoint firm essentially went into bankruptcy in 2009, with PwC buying the US commercial consulting business and Deloitte purchasing the federal governmental consulting practice. The European part of BearingPoint was bought out by the local management who continue to operate the firm under the erstwhile name with 3,250 people in 14 European countries focused on commercial, financial and public services clients. And it appears they have been working hard behind the scenes.
We now see that BearingPoint is extending its reach beyond the Atlantic with a strategic consulting alliance with West Monroe Partners. West Monroe Partners has a number of ex Andersen partners in its top management (Belanger and Bue come to mind), and appears to take its name from the formidable Andersen headquarters in Chicago at 33 West Monroe. The firm has experienced good success – a revenue growth of more than 450% over the past 5 years
So the intent of this alliance is to help each party expand their global market coverage and better provide services to their international clients. This complementary joining brings together BearingPoint’s European connections with West Monroe Partners’ North American presence. Both firms will refer business opportunities, collaborate on client work in Europe, North America and beyond and share intellectual capital; but only on projects which need global reach.
Both Peter Mockler, Managing Partner at BearingPoint and Dean Fischer, President & CEO at West Monroe Partners are excited about this partnership. This is a good example of how consulting firms with specified geographic coverage can rapidly extend their presence in international markets by allying with non-competitive partners. All the more interesting is that this brings together consultants who are alumni of KPMG and Andersen in a compelling new arrangement.
This kind of symbiotic collaboration also means that both firms can point to this global alliance to their clients who are becoming increasingly global on their own and seeking unified cross border expertise. With this kind of alliance, there are always challenges of turf, revenue sharing and performance credit, and we can hope that these issues have been worked out quite well for a mutually beneficial relationship.
For more on this, check out the press release:
BearingPoint, West Monroe Partners, alliance, Europe, North America, consulting